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HeaDstart 08-08-2014 (english version)

Bouncing, heading back higher ?

Regional strength spurred bargain hunting by local and foreign market players to bounce the index off lows and gave bulls a new hope of heading higher to the upper end resistance of 5.125-5.165.

Support: 5.050-4.980, Resistance:5.165-5.250-5.350

 

 

Stock picks: (BUY: ASII, BBRI, WIKA, PGAS)


 1. Astra International (ASII) (BUY) (PE 2014 26x, PBV 3.2x, ROE 19%) (Trading target Rp.7.875)

The minor consolidative state in this consumer auto with the largest market cap in the IDX universe may be an opportunity to build positions in what seems to be an improving medium term uptrend in the making.

Entry (1) Rp.7.600, Entry, (2) Rp.7.525, Cut loss point: Rp.7.475

 

 

2. Bank BRI (BBRI) (PE 2014 11,2x, PBV 3.1x, ROE 27.7%) (BUY) (Trading target: 11.200-11.400)

The one week correction in this big cap state owned bank dealing in the micro retail segment has entered the deep daily oversold area to invite bargain hunters to the table, recommend joining on a moderate pace.

Entry (1) Rp.10.700, Entry (2) Rp.10.625, Cut loss point: Rp.10.575

 

 

 3. Wijaya Karya (WIKA) (PE 2014 28x, PBV 3.5x, ROE 12.3%) (Trading target Rp.2.850)

Corrections and consolidations in the medium to long term trend of this state owned construction may be a chance to dip in for a run back to swing target at Rp.2,850.

Entry (1) Rp.2.640, Entry (2) Rp.2.610, Cut loss point: Rp.2.575

 

 

 4. Perusahaan Gas (PGAS) (PE 2014 17.5x, PBV 5x, ROE 29%) (BUY) (Trading Target Rp.5.975)

The corrective process in  the medium term uptrend for this state owned gas distributor and pipe operator may be overdone to call in the bulls for a resumption in upside momentum.

Entry (1) Rp.5.750, Entry (2) Rp.5.675, cut-loss point: Rp.5.610

 

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 Yuganur Wijanarko Senior Research (Yuganur@hdx.co.id), (www.hdx.co.id)

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