Stock Recommendations for HMSP, PTBA, BANK, and SMRA from RHB Securities

STOCK RECOMMENDATIONS - JAKARTA. The IDX Composite (IHSG) strengthened by 48.79 points or climbed 0.68% on Tuesday (6/2). This brought the IHSG to a position of 7,247.40 as a launching point for today's trading, Wednesday (7/2).

RHB Securities Indonesia analyst, Muhammad Wafi, technically sees the IHSG rebounding and breaking out the MA20 line resistance even with low volume. As long as it stays above the MA20 line, the IHSG has the opportunity to rebound again and continue the bullish phase. 

"However, if it breaks down the MA20 line again, it has the opportunity to continue the sideways phase to test the MA50 line support," Wafi revealed in his research, Wednesday (7/2).

Wafi predicts the current range of IHSG movement is around 7,100 to 7,300.

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Here are the stock recommendations that are technically interesting to observe today:

1. PT H.M. Sampoerna Tbk (HMSP)

Analysis:

H.M. Sampoerna appears to rebound and break out the MA20 line resistance accompanied by volume. As long as it stays above the MA20 line, it has the opportunity to rebound again and break out the MA50 line resistance.

Recommendation:

Buy area around Rp 875 with a selling target at Rp 920 to Rp 955. Cut loss at Rp 850.

2. PT Bukit Asam Tbk (PTBA)

Analysis:

Bukit Asam appears to rebound and test the MA5 line resistance. If it can break out the MA5 line, it has the opportunity to rebound again and test the MA20 line resistance as well as the triangle sideways pattern resistance

Recommendation:

Buy if breakout Rp 2,560 with a selling target at Rp 2,650 to Rp 2,720. Cut loss at Rp 2,510.

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3. PT Bank Aladin Syariah Tbk (BANK)

Analysis:

Bank Aladin Syariah appears to rebound and break out the MA5 line resistance by making a Higher High (HH) level accompanied by volume. As long as it stays above the MA5 line, it has the opportunity to test the MA20 line resistance.

Recommendation:

Buy area around Rp 1,050 with a selling target at Rp 1,205 to Rp 1,390. Cut loss at Rp 1,015.

4. PT Summarecon Agung Tbk (SMRA)

Analysis:

Summarecon Agung appears to rebound and break out the MA5 line resistance accompanied by volume. As long as it stays above the MA5 line, it has the opportunity to rebound again and test the MA20 line resistance.

Recommendation:

Buy area around Rp 550 with a selling target at Rp 585 to Rp 615. Cut loss at Rp 535.