IHSG bounces, bull prounces back in action
We look at the recent selling by the bear camp to possiblly cease and give way to a more positive stance by the bulls in form of a relief recovery rally for the index to possibly test resistance at 5.280-5.330, level which were previously support points broken becoming barriers now, thus recommend buying in big cap and second liner items for near term upside fireworks.
Support: 5.160-5.080-4.975, Resistance: 5.280-5.330-5.410-5.470-5.525
Stock picks: (BUY: BMRI, LSIP, ASII, BKSL)
1. Bank Mandiri (BMRI) (Trading target: Rp.11.050-11.450)
Entry (1) Rp.10.575, Entry (2) Rp.10.475, Cut loss point: Rp.10.375
2. London Sumatra (LSIP) (Trading target Rp.1.510-1.620)
Entry (1) Rp.1.450, Entry (2) Rp.1.435, Cut loss point: Rp.1.415
3. Astra International (ASII) (Trading target Rp.(8.050-8.250).
Entry (1) Rp.7.750, Entry (2) Rp.7.550, Cut loss point: Rp.7.450
4. Bukit Sentul (BKSL) (BUY) (Trading Target Rp.100-104)
Entry (1) Rp.91, Entry (2) Rp.87, cut loss point: Rp.81
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Yuganur Wijanarko Senior Research (firstname.lastname@example.org)