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  Equity Research Weekly Market Outlook
Technical Weekly Market Outlook 26-09-2016 (english version)
September ending not so much gloomy
 
IDX bounces like jumping jackflash:  We look at the recent index performance for September to reflect an unertainty among bears and bulls with either side decisively winning to change the medium term trend from currenctly sideways to a more positive, however it may safe to say that bulls may be building momentum on their side by accumulating positions in big cap index drivers and second liner items for a push in October to break the all all time high of 5.525 if we can put 5.410 in our rearview mirror.
 
Firworks to start: We recommend buying on a dip to the lower end of the daily chart at 5.250 or downward excursions to 5.140 (last previous monthly low) for a possible restart of upside fireworks to the upper resistance level of 5.410.
 

Stock picks & 1-week targets: (BUY: ASII, BMRI , BSDE, TLKM)


1. Astra International (ASII)  (BUY) (Trading target: Rp.8.850) 

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

 

2. Bank Mandiri  (BMRI) (BUY) (Trading target: Rp.11.950)

Entry (1) Rp.11.350, Entry (2) Rp.11.150, Cut-loss point: Rp.10.950

 

3. Bumi Serpong Damai (BSDE) (BUY) (Trading target Rp.2.250)

Entry: (1) Rp.2.130, Entry (2) Rp.2.070, Cut loss point Rp.2.020

 

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


This document has been prepared by PT.KGI Sekuritas Indonesia.  The information has been compiled from public source, which we believe to be reliable but no representation or warranty, express or implied is made as to accuracy, completeness or fairness of the information and opinions contained in this document. Information and opinion contained herein are used to assist recipients, but are not to be relied upon as authoritative or taken in substitution for the exercise of judgment by any recipients as of this date. Any opinion and expressed in this report are subject to change without notice and PT. KGI Sekuritas Indonesia is not under obligation to update or keep current the information contained herein. This report is not, and should not be construed as, an offer or solicitation to buy or to sell any securities. PT. KGI Sekuritas Indonesia accepts no liabilities whatsoever for any direct, indirect or consequential loss or damage suffered by any person as a result of relying on any statement or omission in any information contained in this report. No part of this report may be produced, distributed or published without the written permission of PT. KGI Sekuritas Indonesia. All rights reserved

 

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

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