IDX back above 5.700, bull flexes muscles
Consistent buying by bull camp followers in big cap index drivers and second liner items has brought the index back above the psychological 5.700 for the second day in a row despite frequent selling by bears anxious on pressuring prices lower, thus such a technical event could call for another round of upside fireworks until the all time high at 5.874.
Support: 5.650-5.560-5.495, Resistance: 5.900-6.100-6.500
Stock picks: (BUY: BJBR, ASII, BUMI, ADHI)
- Bank Jabar (BJBR) (Trading target: Rp.2.425)
Entry (1) Rp.2.200, Entry (2) Rp.2.175, Cut loss point: Rp.2.095
- Astra International (ASII) (Trading target: Rp.8.950-9.150)
Entry (1) Rp.8.675, Entry (2) Rp.8.575, Cut loss point: Rp.8.475
- Bumi Resources (BUMI) (Trading target Rp.390-420)
Entry (1) Rp.350, Entry (2) Rp.340, Cut loss point: Rp.335
- Adhikarya (ADHI) (BUY) (Trading Target: Rp.2.460)
Entry (1) Rp.2.170, Entry (2) Rp.2.090, cut loss point: Rp.2.010
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Yuganur Wijanarko Senior Research (yuganur.wijanarko@kgi.com) (kgi.id)
