IDX goes flirts with 4.900, next stop the psychologial 5.000 barrier

6:16 AM | March 22, 2016 BERITA No Comments

HD CAPITAL – We look at optimism on a recovery in the domestic economic picture coupled with listed corporate earnings growth for the rest of 2016 to fuel a rally which could move above the 4.900 level and possibly test the psychological 5.000 barrier, recommend buying small banks, CPO, government owned construction and retail listed stocks for further continuation of upside, fingers crossed of course.

Support: 4.870-4.770-4.675, Resistance:4.925-5.000-5.100

Stock picks: (BUY: BJBR, LSIP, WTON, MPPA)

1. Bank Jabar (BJBR) (BUY) (Trading target: Rp.1.000)

Entry (1) Rp.900, Entry (2) Rp.880, Cut loss point: Rp.865

2. London Sumatra (LSIP) (Trading target Rp.1.900)

Entry (1) Rp.1.665, Entry (2) Rp.1.645, Cut loss point: Rp.1.635

3. Wika Beton (WTON) (Trading target Rp.1.100)

Entry (1) Rp.975, Entry (2) Rp.965, Cut loss point: Rp.955

4. Matahari (MPPA) (BUY) (Trading Target Rp.1.750-1.825)

Entry (1) Rp.1.675, Entry (2) Rp.1.665, cut loss point: Rp.1.655

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