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  Equity Research Weekly Market Outlook
Weekly Market Outlook 19-09-2016 (english version)
Bull is back in charge
IDX holds ground: Selling by the bear camp on regional volatility had evolved into a corrective move until we saw a low of 5.142 on the index, however buying in big cap index drivers and second liners by the bull followers had managed to turn events upside down from disaster to a positive stance for future near term upside fireworks to the upper end of 5.370 and yearly high at 5.470. Thus it seems that the bearish camp scenario of the IDX revisiting the lower end of 5.140 or even 5.100 may not be in the cards now, and we call a more bullish scenario to the upside.
Daily stuff stirred, weekly not shaken: We look that although the daily chart does show some minor technical damage nevertheless the index on a weekly or Friday close did not touch the weekly low of 5.140 and close above. Further technical confirmation such as a close above the previous monthly low of 5.280 suggest that near to medium upside remains with the bull.

Stock picks & 1-week targets: (BUY: ASII, BBNI , GJTL, TLKM)

1. Astra International (ASII)  (BUY) (Trading target: Rp.8.550-8.750) 

Entry buy (1) Rp.8.125, Entry buy (2) Rp.8.075, Cut loss point: Rp.7.975


2. Bank BNI  (BBNI) (BUY) (Trading target: Rp.5.950)

Entry (1) Rp.5.525, Entry (2) Rp.5.425, Cut-loss point: Rp.5.325


3. Gajah Tunggal (GJTL) (BUY) (Trading target Rp.1.615-1.645)

Entry: (1) Rp.1.510, Entry (2) Rp.1.490, Cut loss point Rp.1.470


4. Telekomunikasi (TLKM) (BUY): (Trading target Rp.4.350-4.350) 

Entry: (1) Rp.4.170, Entry (2) Rp.4.120, Cut loss point Rp.4.040



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

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