STOCK MARKET - JAKARTA. The IDX Composite Index (IHSG) closed last week, Friday (16/2) with a strengthening of 0.44% to the position of 7,335.54.
RHB Securities Indonesia analyst, Muhammad Wafi sees, IHSG rebounded again with a doji candle and low volume.
Wafi explained, although IHSG has the opportunity to make a technical correction, as long as it remains above the MA20 line, it has the potential to rebound again and continue its bullish phase.
"If the MA20 line support breaks down, it has the potential to enter the sideways phase and test the MA50 line support," Wafi explained in his research, Monday (19/2).
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Wafi predicts the current IHSG movement range is around 7,200 to 7,400. Here are the recommended stock picks from RHB Securities to watch today:
1. PT Sarana Menara Nusantara Tbk (TOWR)
Analysis:
TOWR appears to rebound and test the MA5 line resistance. If it can breakout the MA5 line, it has the potential to rebound again and test the MA20 line resistance as well as its bearish channel resistance
Recommendation: Buy on Breakout
Buy if breakout Rp 880 with a selling target at Rp 935 to Rp 985. Cut loss at Rp 865.
2. PT ESSA Industries Indonesia Tbk (ESSA)
Analysis:
ESSA appears to correct with low volume and test the MA(20,50) line support. As long as it remains above the MA20 line, it has the potential to rebound again and make a Higher High (HH) level.
Recommendation: Buy
Buy area accompanied by Rp 535 with a selling target at Rp 590 to Rp 620. Cut loss at Rp 510.
3. PT Gajah Tunggal Tbk (GJTL)
Analysis:
GJTL appears to correct but with low volume. As long as it remains above the MA5 line, it has the potential to rebound again and breakout the MA20 line resistance to confirm the breakout signal from the sideways phase.
Recommendation: Buy on Breakout
Buy if breakout Rp 1.075 with a selling target at Rp 1.160 to Rp 1.260. Cut loss at Rp 1.010.
4. PT Humpuss Maritim Internasional Tbk (HUMI)
Analysis:
HUMI appears to rebound from the MA5 support accompanied by volume to test the MA20 line resistance. If it can breakout the MA20 line resistance, it will confirm the reversal signal to test the MA50 line
Recommendation: Buy
Buy area around Rp 71 with a selling target at Rp 135 to Rp 178. Cut loss at Rp 53.
