Following are some target corrections (buy targets) and rebound targets (sell/Take profit targets). Technically there is a high chance of corrections on a lot of stocks especially large caps. Rupiah looks like it is starting to strengthen again today but don't forget the market has been going up whilst it was weakening. Strength in the rupiah doesn't automatically mean foreign funds buying shares but could mean they are getting ready to.
Composite - Target correction = 3835/3792, Target rebound after correction = 4168/4192
ASII - Target correction = 73,850/73400, Target rebound after correction = 76,700/78,550
BMRI - Target correction = 6,650/6550, Target rebound after correction = 7,300/7,400
GGRM - Target correction = 56,950/55,300, Target rebound after correction = 62,000 Be careful very high PER and limited EPS growth
BBRI - Already corrected to support at 6,800 next support at 6,650. Minimum rebound 7,300 but should go up to 7,800
Just some examples let me know if you want any other target corrections.
Done the above as they make up a large percentage of market cap. UNVR and BBCA also make up a large amount but be very careful as Foreign funds will switch as soon as the risk on trade takes placeregards,
Mr. Dale Jarvis
Head of Research & Analysis
PT Garuda Nusantara Capital
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