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  Equity Research HeadStart Today
HeaDstart 09-09-2016 (english version)

IDX mission 5.500 continues

Altough plagued by frequent bouts of selling by the bear camp we remain confident that the continued buying in big cap index drivers and selected second liners by the bull camp should provide buoyancy for the development of what seems to be forming of legs to support another round of upside fireworks to take out short term resistance at 5.410 and 5.470. Thus recommend adding positions to support the upcoming  long delayed IDX mission to 5.500.

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

 


Stock picks: (BUY: BMRI, LSIP, ASII, PWON)

1. Bank Mandiri (BMRI) (Trading target: Rp.11.650)

Entry (1) Rp.11.225, Entry (2) Rp.11.175, Cut loss point: Rp.11.075

 

2. London Sumatra Plantation (LSIP) (Trading target Rp.1.650)

Entry (1) Rp.1.585, Entry (2) Rp.1.565, Cut loss point: Rp.1.545

 

 
3.  Indofood  (INDF) (Trading target Rp.8.750-9.000)

Entry (1) Rp.8.400, Entry (2) Rp.8.250,  Cut loss point: Rp.8.100

 

4. Pakuwon (PWON) (BUY) (Trading Target Rp.680)

Entry (1) Rp.630. Entry (2) 615, cut loss point: Rp595

 

 

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

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