Bull holds ground above 5.650, the 5.800 level next on the agenda
Although we see that the bear camp has always tried to sell positions in order to push prices lower, nevertheless aggressive buying by the bull camp in big cap and second liner items managed to keep seller in check, and thus creating a rallying point to support the further rally to all time of 5.745 or even the 5.800 psychological level.
Support: 5.650-5.600-5.560-5.490, Resistance: 5.746-5.800-5.950-6.100
Stock picks: (BUY: BNLI, PGAS, BUMI, WIKA)
- Bank Permata (BNLI) (Trading target: Rp.695)
Entry (1) Rp.625 Entry (2) Rp.615, Cut loss point: Rp.605
- Perusahaan Gas (PGAS) (Trading target Rp.2.525-2.725).
Entry (1) Rp.2.375, Entry (2) Rp.2.295, Cut loss point: Rp.2.185
- Bumi Resources (BUMI) (Trading target Rp.405-430)
Entry (1) Rp.355, Entry (2) Rp.345, Cut loss point: Rp.335
- Wijaya Karya (WSKT) (BUY) (Trading Target: Rp.2.350-2.450)
Entry (1) Rp.2.200, Entry (2) Rp.2.125 cut loss point: Rp.2.050
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Yuganur Wijanarko Senior Research (yuganur.wijanarko@kgi.com) (kgi.id)
