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  Equity Research Weekly Market Outlook
Weekly Market technical outlook 03-10-2016 (english version)
IDX not so gloomy October
Correction over, time for some upside fireworks: We look at the month of September filled by corrective moves by the bear camp to a low of 5.130 followed by vicious buying by the bull camp rallying the index back to the yearly high at 5.470 as proof that the bulls are in charge and won the tug of war between upside and downside probability scenarios. Thus it seems that the correction phase may be over and that it may be time for some upside fireworks to follow for breaching the yearly high at 5.470 and possibly proceed to take out resistance at the all time high at 5.525.

Oil and currency stronger on fed certainty: We view the rupiah and oil getting stronger by the day may be a function of positive sentiment from fed certainty on future interest rate policy, particularly the next expected december rate hike.

Stock picks & 1-week targets: (BUY: ASII, BBNI, BSDE, WSKT)

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

Entry buy (1) Rp.8.575, Entry buy (2) Rp.8.475, Cut loss point: Rp.8.275


2. Bank BNI  (BBNI) (BUY) (Trading target: Rp.5.850)

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


3. Bumi Serpong Damai (BSDE) (BUY) (Trading target Rp.2.450)

Entry: (1) Rp.2.180, Entry (2) Rp.2.120, Cut loss point Rp.2.080


4. Waskita (WSKT) (BUY): (Trading target Rp.2.850) 

Entry: (1) Rp.2.650, Entry (2) Rp.2.570, Cut loss point Rp.2.490



Disclaimer on: 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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