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Daily technical 30-09-2016 (english version)

Bears step aside, bulls back in charge

We look at the recent aggressive buying in big cap index drivers and second liner items by the bull camp to cancel out any bearish scenarios by the bear camp to unfold (such as a corrective move to 5.250-5.150), thus recommend to build positions in big cap index drivers and second liners for further upside fireworks scenario to breack 5.470 and reach 5.525 (all time high).

Support: 5.410-5.350-5.280-5.130-4.980, Resistance: 5.525-5.600


Stock picks: (BUY: BMRI, ADRO, TOTL, BSDE)

1. Bank Mandiri (BMRI) (Trading target: Rp.12.800)

Entry (1) Rp.11.325, Entry (2) Rp.11.125, Cut loss point: Rp.10.950


2. Adaro Energy (ADRO) (Trading target Rp.1.350)

Entry (1) Rp.1.220, Entry (2) Rp.1.205, Cut loss point: Rp.1.185


3.  Total Bangun Persada (TOTL) (Trading target Rp.850)

Entry (1) Rp.795, Entry (2) Rp.785,  Cut loss point: Rp.765


4. Bumi Serpong Damai (BSDE) (BUY) (Trading Target Rp.2.600)

Entry (1) Rp.2.210, Entry (2) Rp.2.180, cut loss point: Rp.2.120


Disclaimer: 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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