DX to end sideways stance, the 5.000 level eyed

6:07 AM | March 23, 2016 BERITA No Comments

HD CAPITAL – We look at the recent stance in the index to cool off short term overbought readings to bulild enough momentum for the return to a more favorable trading environment which may yield further upside fireworks to 4.925 and the psychological 5.000 level, recommend buying big cap index drivers and selected second liner items to benefit from an improving global and domestic economic picture.

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

Stock picks: (BUY: BMRI, PTBA, KIJA, ASII)

1. Bank Mandiri (BMRI) (BUY) (Trading target: Rp.10.500)

Entry (1) Rp.10.100, Entry (2) Rp.9.950, Cut loss point: Rp.9.850

2. Perusahaan Bukit Asam (PTBA) (Trading target Rp.7.200)

Entry (1) Rp.6.825, Entry (2) Rp.6.725, Cut loss point: Rp.6.625

3. Kawasan Industri Jababeka (KIJA) (Trading target Rp.285)

Entry (1) Rp.255, Entry (2) Rp.245, Cut loss point: Rp.235

4. Astra International (ASII) (BUY) (Trading Target Rp.7.750)

Entry (1) Rp.7.375, Entry (2) Rp.7.275, cut loss point: Rp.7.175

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