Bull stirring the pot, bears getting hot
Although the vicious selling by the bear camp still continues, momentum stirring within the pot may heat things up so that bears eventually may succumb to the sharp uptrend and give way to bulls getting the upper hand on the situation, thus recommend to build long positions in big cap index drivers and second liner items.
Support: 5.490-5.510-5.410-5.310, Resistance: 5.600-5.690
Stock picks: (BUY: PNBN, AALI, HRUM, WTON)
- Bank Panin (PNBN) (Trading target: Rp.925-975)
Entry (1) Rp.855, Entry (2) Rp.845, Cut loss point: Rp.830
- Astra Agro Lestari (AALI) (Trading target Rp.16.000)
Entry (1) Rp.15.150, Entry (2) Rp.14.850, Cut loss point: Rp.14.550
- Harum Energy (HRUM) (Trading target Rp.2.700)
Entry (1) Rp.2.320, Entry (2) Rp.2.250, Cut loss point: Rp.2.210
- Wika Beton (WTON) (BUY) (Trading Target: Rp.860-900)
Entry (1) Rp.805, Entry (2) Rp.795, cut loss point: Rp.775
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Yuganur Wijanarko Senior Research (yuganur.wijanarko@kgi.com) (kgi.id)
