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Reporter: Avanty Nurdiana | Editor: Avanty Nurdiana
KONTAN.CO.ID – JAKARTA. The composite equity price index, also known as the IHSG today (11/26), is expected to weaken again. JCI closed down 0.38% to 5,679.25 levels on November 25, 2020.
Nafan Aji, an analyst at Binaartha Sekuritas, explained that the current JCI movement based on the MACD indicator was still showing a positive signal. However, the Stochastic and the RSI are starting to show overbought or overbought conditions. On the other hand, there is a black long open marubozu candlestick pattern indicating potential for a further correction of the JCI move today (11/26).
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Nafan said that today’s JCI move based on the fobonacci ratio will be at support and resistance at 5,621.52 to 5,769.53. Meanwhile, Nafan’s share purchase recommendations accumulated today include, ACES, ANTM, BSDE, INCO, INDF and TINS.
A series of recommendations on actions are reviewed in the following technical indicators.
1. Ace Hardware (ACES). The ACES share price movement is testing the MA 10 line, so the opportunity for a minimal strengthening to the first resistance level is still open. Nafan recommends ACES shares for accumulated purchases in the area of IDR 1,690 – IDR 1,710, with a price target gradually at IDR 1,735, IDR 1,785 and IDR 1,850. Support is at Rp. 1,665 and Rp. 1,620. ACES shares closed at Rs 1,710. (RoE: 14.16%; PER: 41.28x; BPA: 41.31; PBV: 5.86x; Beta: 0.85).
2. Miscellaneous Mining (ANTM). The ANTM share price movement has tested the MA 10 line so the opportunity for a minimal strengthening to the first resistance level is still open. The ACES share recommendation is a cumulative buy in the area of IDR 1,190 – IDR 1,210, with a price target gradually at IDR 1,255, IDR 1,305, IDR 1,355 and IDR 1,500. Support is at IDR 1,180 and IDR 1,155. ANTM shares closed at Rp 1,205. (RoE: 5.82%; PER: 26.06x; BPA: 46.43; PBV: 1.52x; Beta: 2.02).
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3. Bumi Serpong Damai (BSDE). The BSDE share price movement is testing the MA 10 line, so the possibility of a minimal strengthening to the first resistance level is still open. Today’s recommendation for BSDE shares is to buy accumulation in the area of IDR 1,035 – IDR 1,045, with a price target gradually at the level of IDR 1,110, IDR 1,165 and IDR 1,235. Support is at Rp. 1,035 and Rp. 985. BSDE shares closed at Rp. 1,045. (RoE: 1.82%, PER: 35.72x, BPA: 29.53, PBV: 0.65x, Beta: 1.67).
4. Indofood Sukses Makmur (INDF). INDF stock price movements tested several MA 10 and MA 20 lines so the opportunity for a minimal strengthening to the first resistance level is still open. Today’s recommendation for INDF shares is to buy accumulated in the area of IDR 7,050 – IDR 7,150, with a price target gradually at IDR 7,400, IDR 7,600 and IDR 8,375. Support is at Rp. 6,800. INDF shares are at Rp 7,150. (RoE: 9.68%; PER: 11.26x; BPA: 646.04; PBV: 1.09x; Beta: 0.77).
5. Vale Indonesia (INCO). INCO’s share price movement is testing the MA 10 line, so the possibility of a minimal strengthening to the first resistance level is still open. Today’s recommendation for INCO shares is accumulated purchases at the level of IDR 4,550 – IDR 4,600, with a price target gradually at the level of IDR 4,660, IDR 4,820 and IDR 4,990. Support is at IDR 4,530 and IDR 4,330. INCO shares closed at 4,600 IDR. (RoE: 5.02%, PER: 29.74x, EPS: 153.99, PBV: 1.50x, Beta: 1.61).
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6. Tin (CANS). The TINS share price movement tested the MA 10 line so the possibility of a minimal strengthening to the first resistance level is still open. The accumulated purchase of shares of TINS in the area of Rp. 1,085 – Rp. 1,095, with a target price gradually at the level of Rp. 1,125, Rp. 1,195 and Rp. 1,485. Support is at Rp. 1,040. TINS shares closed at Rp 1,095. (RoE: -6.99%; PER: -23.82x; EPS: -45.97; PBV: 1.68x; Beta: 2.32).
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