JAKARTA, NETRALNEWS.COM - The Jakarta Composite Index (JCI) of the Indonesia Stock Exchange (IDX) has the potential to reach the level of 6,000. If this level has been achieved, then IHSG will be corrected significantly.
"Based on daily and weekly stochastic indicators, there is still room to reach full breakout target at 6,150-6,200, before significant correction several hundred points down," said Yuganur Wijanarko, an analyst at KGI Sekuritas Indonesia in Jakarta on Sunday (10/8/2017).
However, Yuganur explained, the potential correction that will happen will not be lower than the level of 5850. Selling action on certain stocks will be offset by investors' buying transactions on big caps and prospective second-tier shares.
"Reality of the market changed, JCI will move to rally to 6,100 which is a breakout target of consolidated 5,923-5,850 for more than a month," he explained.
He also reconciled some worthy stocks for stock trading in the next week:
1. Bukit Asam (PTBA.JK) target of trading at position IDR12,200. Purchases at can be made when the price is at IDR10,200 and IDR10,700. For cut loss at IDR9,900 per share.
2. Telekomunikasi Indonesia (TLKM.JK) target trading around IDR4,850 to IDR4,950. Buy rate at IDR4,650 and IDR4,580, and cut loss at IDR4,490 per share.
3. Bumi Serpong Damai (BSDE.JK) target trading at around IDR1,920 to IDR2,050. Purchase at a price of IDR1,765 and IDR1,795, and a cut loss of IDR1,715 per share.
4. Astra International (ASII.JK), target trading in the range IDR8,150 up to IDR8,250. Buy at the level of IDR7,925 and IDR7,825, and cut loss at IDR7,625 per share.