Looking forward in October
Correction over, time for the bulls to come back: We look at the recent daily heavy selling which had plagued the index by the bear camp on regional volatility and overbought readings to be losing momentum and fading thus giving way for a comeback buy the bull camp to buy in big cap index drivers and second liners and generate what we deem as comeback in form of a rally to take out the yearly resistance at 5.470 and adding a more positive note, the all time high of 5.525.
Correction and consolidations as a buying opportunity: Secara teknikal bila memang terjadi koreksi harian mendadak atau konsolidasi untuk mengurangi keadaan jenuh beli (overbought) di indicator stochastic atau RSI rekomen untuk mengunakannya sebagai kesempatan beli.
Stock picks & 1-week targets: (BUY: ASII, TLKM, PWON, WSBP)
1. Astra International (ASII) (BUY) (Trading target: Rp.8.750)
Entry buy (1) Rp.8.350, Entry buy (2) Rp.8.275, Cut loss point: Rp.8.175
2. Telekomunikasi (TLKM) (BUY) (Trading target: Rp.4.350)
Entry (1) Rp.4.175, Entry (2) Rp.4.075, Cut-loss point: Rp.3.975
3. Pakuwon (PWON) (BUY) (Trading target Rp.700)
Entry: (1) Rp.665, Entry (2) Rp.645, Cut loss point Rp.635
4. Waskita Beton (WSBP) (BUY): (Trading target Rp.620-650)
Entry: (1) Rp.575, Entry (2) Rp.565, Cut loss point Rp.545
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Yuganur Wijanarko Senior Research (yuganur.wijanarko@kgi.com)
