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HeaDstart 07-09-2016 (english version)

IDX heading to 5.410, bears bite fingernails

We look at the continued buying in big cap index drivers and second liner items by the bull camp has made the bear camp followers hope for IDX moving beyond 5.100 not likely for the immediate, with bears biting fingernails it seems that the index may be heading to 5.410 versus 5.100.

Support: 5.310-5.220-5.160, Resistance: 5.410-5.470-5.525


Stock picks: (BUY: BMRI, PTBA, TLKM, ASRI)

1. Bank Mandiri (BMRI) (Trading target: Rp.11.400-11.800)

Entry (1) Rp.11.025, Entry (2) Rp.10.925, Cut loss point: Rp.10.825


2. PT.Bukit Asam (PTBA) (Trading target Rp.10.450-10.850)

Entry (1) Rp.10.000, Entry (2) Rp.9.850, Cut loss point: Rp.9.750


3.  Telekomunikasi (TLKM) (Trading target Rp.4.350-4.450)

Entry (1) Rp.4.170, Entry (2) Rp.4.090,  Cut loss point: Rp.4.010


4. Alam Sutera (ASRI) (BUY) (Trading Target Rp.520-540)

Entry (1) Rp.490. Entry (2) 480, cut loss point: Rp.465




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 Yuganur Wijanarko Senior Research (yuganur.wijanarko@kgi.com)

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