After a long day of rally of IDX, suddenly at the end of the day there are a lot of investors & traders who realized their profits, which give a big pressure to IDX to close high. But, well then IDX is still going to be stronger as the fuel of the strong index is the hot money entering Indonesia nowadays.
We can see that foreign money in Indonesian Stock Exchange increase buy net buy of more then Rp1Trillion, which is a great amount of money. While in US, the economic data are reported better than forecasted recently, which is one of the good sentiments to our index, as US is the most consumptive country, as we are one of their biggest supplier.
Technically, we can see that index has just broken its new high, and based on elliot wave, we are now at the wave 1, and seems to be tomorrow will be the wave 2 (beginning), so it's quite wise for us to sell on strength...
Rating: Sell On Strength; TP:2888-2900
Stock watch for tomorrow:
HM Sampoerna (HMSP.JK, HMSP:IJ)
Not a very liquid stock but still this firm is one of the strongest company in its industry, yet, the US new regulation of non-"cengkeh" cigarette only that can enter US market, as this firm doesn't produce any of that kind of cigarette, and there will be no impact to their export to US.
Technically, the EMA crossover showed that this stock is golden-crossing and yet, it is almost the shocking time for it, so we can speculatively buy on it.
Rating: SpecBuy; TP: 17000-18000; SL: 13500-13650
Bhakti Investama (BHIT.JK, BHIT:IJ)
This investment firm has just finalized their acquisition on 3 mining company,as the firm is still growing, yet the company will give bonus share to their investors with ratio 1 (old) : 3 (new). And this might increase the liquidity of the stock, the other consideration is their direcotr has just bought back the share at Rp1020, and this might be the other sentiment of increment toward the stock.
Technically, most of the indicators are showing reversal pattern, where as MACD is bending upward, EMA crossover is moving upward, hence, it has crossed the MA5, stochastic & W%R is moving upward. As well as, the symmetrical triangle of the stock, the next target will be higher.
Rating: Buy On Weakness; TP: 1050-1100, SL: 770-780
Gudang Garam (GGRM.JK, GGRM:IJ)
The other firm of cigarette, but this one has consolidate for quite a long time, so as today is the first confirmation of the reversal, it formed an descending triangle pattern which is now is heading upward, we can take our profit not too far, but still we can earn some money.
Base on the historical pattern this stock can stay quite a long time at overbought area. And this stock is quite strong as this firm is one of the biggest cigarettes player in Indonesia.
Technically, it has just bounced from the descending triangle pattern and it has just moved up from the 1st candle. ADX, MACD, Stochastic, W%R, is still showing upside force.
Accumulate the stock if the price break above 28500 with big volume.
Rating: Buy On Weakness; TP: 28500-28800, SL: 27250-27350
The last one is Agis (TMPI.JK, TMPI:IJ), as today it corrected upward, seems the "big" player is making elliot wave pattern, we can speculate a bit on it.
Rating: SpecBuy, TP: 290-330, SL point is when the selling pressure is too high...
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