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HeaDstart 14-09-2016 (english version)

IDX bounces off lows, bears frown again

Despite some pessimism out there we look at the index bouncing low daily lows supported by bargain hunting in big cap index drivers and second liners by the bull camp to reverse the vicious selling by the bear camp and reel the index back up above the near term resistance of 5.330 and continue until we see 5.410 again.

Support: 5.210-5.160, Resistance: 5.330-5.410-5.470-5.525


Stock picks: (BUY: BBRI, ADRO, TLKM, WSKT)

1. Bank BRI (BBRI) (Trading target: Rp.11.850-12.000)

Entry (1) Rp.11.575, Entry (2) Rp.11.475, Cut loss point: Rp.11.375


2. Adaro energy (ADRO) (Trading target Rp.1.250)

Entry (1) Rp.1.165, Entry (2) Rp.1.115, Cut loss point: Rp.1.095


3.  Telekomunikasi (TLKM) (Trading target Rp.(4.190-4.280)

Entry (1) Rp.4.050, Entry (2) Rp.4.010,  Cut loss point: Rp.3.960


4. Waskita (WSKT) (BUY) (Trading Target Rp.2.620-2.780)

Entry (1) Rp.2.470, Entry (2)2.415, cut loss point: Rp2.390



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

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