Technical Research Wednesday, 13 April 2022

(1)

Technical Research

Wednesday, 13 April 2022

Analyst : Ivan Rosanova E-Mail : [email protected]

JAKARTA COMPOSITE INDEX (JCI) : 7214.781 (0.15%)

Value : RG 14.292 T (NG 1.613 T) Foreign Net Buy 1.507 B

Daily Range (est) : 7185 – 7275

Daily Signal

“Forecast” :

Commentary: JCI chart surged 0.15% at level 7214.781 during the end of trading session on 12 April 2022. JCI successfully rebounded from the 38.2 percent Fibonacci Retracement of wave (iii) and remains defend its position above the MA-10 line. Therefore JCI is still in a strong uptrend with a chance to retest the nearest resistance around level 7250. Support level for JCI are at 7150, 7090 and 7040, while resistance level are at 7250, 7356 and 7381. Based on indicator, MACD in a bullish condition.

Komentar: IHSG menguat 0.15% di level 7214.781 pada akhir perdagangan 12 April 2022. IHSG berhasil mengalami rebound dari Fibonacci Retracement 38.2% dari wave (iii) dan tetap mempertahankan posisinya di atas garis MA-10. Oleh karena itu IHSG masih berada pada tren naik yang kuat dengan peluang menguji kembali resisten terdekat di sekitar level 7250. Level support IHSG berada di 7150, 7090 dan 7040, sementara level resistennya di 7250, 7356 and 7381. Berdasarkan indikator MACD dalam kondisi bullish.

(2)

PT Bank Central Asia Tbk. (BBCA) 7800

ROE: 15.49%; PER: 30.28x; EPS: 257.56; PBV: 4.69; Beta: 1.05

Recommendation: BUY ON WEAKNESS

Commentary: BBCA price rose at level 7800 during the end of trading session on 12 April 2022.

BBCA is closed above the 50 percent Fibonacci Retracement of wave 5 yet still has a chance to continue the correction structure of wave [b] to 7600 as an ideal correction target if remains below 7875. Based on indicators, MACD is signifying a bearish condition. HOLD or BUY ON WEAKNESS partially at price range 7450-7600 with the nearest target price at 8000.

Komentar: BBCA ditutup menguat di level 7800 pada 12 April 2022. BBCA ditutup di atas Fibonacci Retracement 50% dari wave 5 namun masih berpeluang melanjutkan struktur koreksi wave [b] menuju 7600 sebagai target koreksi ideal jika tetap berada di bawah 7875. Berdasarkan indikator MACD menandakan kondisi bearish. HOLD atau BUY ON WEAKNESS sebagian pada rentang harga 7450-7600 dengan target harga terdekat di 8000.

Support: 7350 (weekly close)

Resistance: 8000, 8100 and 8500

Indicator Status

MACD (12,26,9)

Bearish

(3)

PT Indah Kiat Pulp and Paper Tbk. (INKP) 7800

Recommendation: BUY ON WEAKNESS

Commentary: INKP price rose at level 7800 during the end of trading session on 12 April 2022.

INKP is expected to continue the correction of wave (ii) towards the 85.4 percent Fibonacci Retracement of wave (i) at level 7400 as it still in a downtrend. Based on indicators, MACD is signifying a bearish condition. HOLD or BUY ON WEAKNESS at price range 7400-7500 with the nearest target price at level 8000.

Komentar: INKP ditutup menguat di level 7800 pada 12 April 2022. INKP diperkirakan akan melanjutkan koreksi wave (ii) menuju Fibonacci Retracement 85.4% di level 7400 karena masih dalam tren menurun. Berdasarkan indikator MACD menandakan kondisi bearish. HOLD atau BUY ON WEAKNESS pada rentang harga 7400-7500 dengan target harga terdekat di level 8000.

Support: 7400 (daily close)

Resistance: 8000, 8400 and 8800

Indicator Status

MACD (12,26,9)

Bearish

(4)

PT Timah (Persero) Tbk. (TINS) 1890

Recommendation: SPECULATIVE BUY

Commentary: TINS price rose at level 1890 during the end of trading session on 12 April 2022.

TINS is expected in the beginning of the wave B correction structure and will test the nearest support at level 1805. If the daily closing price is below 1805 then there is a chance for TINS to drop to 1695 as the target of wave B. Based on indicator MACD is signifying bearish condition.

SPECULATIVE BUY at price range 1770-1810 with the nearest target price at 1930.

Komentar: TINS ditutup menguat di level 1890 pada 12 April 2022. TINS diperkirakan berada di awal dari struktur koreksi wave B dan akan menguji support terdekat di 1805. Apabila harga penutupan hariannya di bawah 1805 maka ada peluang TINS untuk melemah ke 1695 yang merupakan target wave B. Berdasarkan indikator MACD menandakan kondisi bearish.

SPECULATIVE BUY pada rentang harga 1770-1810 dengan target harga terdekat di 1930.

Support: 1695 (daily close)

Resistance: 1930 and 2040

Indicator Status

MACD (12,26,9)

Bearish

(5)

PT Pabrik Kertas Tjiwi Kimia Tbk. (TKIM) 6900

Recommendation: BUY ON WEAKNESS

Commentary: TKIM price unchanged at level 6900 during the end of trading session on 12 April 2022. TKIM is still forming wave (b) and may retest the support at 6725. As long as the price doesn’t break the support, then there is a chance for a reversal. Based on indicators, MACD is signifying bearish condition. HOLD or BUY ON WEAKNESS at price range 6750-6850 with the nearest target price at level 7500.

Komentar: TKIM ditutup tidak berubah di level 6900 pada 12 April 2022. TKIM masih membentuk wave (b) dan dapat menguji kembali support di 6725. Selama harga tidak menembus support, maka masih ada peluang terjadinya pembalikan arah. Berdasarkan indikator MACD menandakan kondisi bearish. HOLD atau BUY ON WEAKNESS pada rentang harga 6750-6850 dengan target harga terdekat di level 7500.

Support: 6725

Resistance: 7500 and 7800

Indicator Status

MACD (12,26,9)

Bearish

(6)

PT Sarana Menara Nusantara Tbk. (TOWR) 1010

Recommendation: TRADING SELL

Commentary: TOWR price unchanged at level 1010 during the end of trading session on 12 April 2022. TOWR will continue the downtrend if breaks below the crucial support at 1000. The nearest correction continuation target is expected at 920-950 according to the Fibonacci Analysis. Based on indicators, MACD is signifying a bearish condition. HOLD or TRADING SELL partially at 1020- 1030 to reduce position.

Komentar: TOWR ditutup tidak berubah di level 1010 pada 12 April 2022. TOWR akan melanjutkan tren turunnya jika menembus support krusial di 1000. Target kelanjutan koreksi terdekat diperkirakan di 920-950 mengacu pada analisis Fibonacci. Berdasarkan indikator MACD menandakan kondisi bearish. HOLD atau TRADING SELL sebagian di 1020-1030 untuk mengurangi posisi.

Support: 1000

Resistance: 1110, 1160 and 1210

Indicator Status

MACD (12,26,9)

Bearish

(7)

STOCK RECOMMENDATION : IDX30

Stock Date Buy Area Target Price Protection Status

ADRO 12/4/2022 2950 – 3050 3350 and 3500 2870 (daily close)

Hold/ Buy on Weakness ANTM 11/4/2022 2670 – 2720 2970 and 3160 2580 (daily

close)

Hold

ASII 12/4/2022 6600 – 6725 7450 and 7750 6375 Hold/ Buy on Weakness BBCA 7/4/2022 7450 – 7600 8000, 8100 and

8500

7350 (weekly

close)

Hold/ Buy on Weakness

BBNI 5/4/2022 8000 – 8200 8700, 8900 and 9150

7950 Hold/ Buy on Weakness BBRI 13/4/2022 4450 – 4525 4800, 4950 and

5100

4520 (daily close)

Hold/ Buy on Weakness BBTN 12/4/2022 1600 – 1620 1800, 1850 and

1940

1590 (daily close)

Hold/ Buy on Weakness

BMRI 6/4/2022 7650 – 7800 8200 and 8550 7500 Hold

BRPT 12/4/2022 850 – 860 930, 960 and 990

825 Hold

CPIN 12/4/2022 5000 – 5150 5400, 5500 and 5600

5000 (daily close)

Buy on Weakness

EMTK 13/4/2022 2600-2620 2990 and 3190 2600 (daily close)

Hold/ Buy on Weakness EXCL 5/4/2022 2640 – 2670 2850, 2940 and

3040

2500 (daily close)

Hold

ICBP 6/4/2022 7400 – 7550 7700, 8050 and 8300

7075 Hold

INCO 11/4/2022 7300 – 7400 7800 and 8150 6800 (daily close)

Hold

(8)

STOCK RECOMMENDATION : IDX30

Stock Date Buy Area Target Price Protection Status

INKP 6/4/2022 7400 – 7500 8000, 8400 and 8800

7400 (daily close)

Hold/ Buy on Weakness KLBF 12/4/2022 1530 – 1545 1660, 1740

and 1800

1520 Hold/ Buy on Weakness MDKA 12/4/2022 5100 – 5125 5775 and 6000 4850 (daily

close)

Hold

MIKA 4/4/2022 2200 – 2240 2600 Switch to 2380 Hold

PGAS 12/4/2022 1290 – 1310 1400 and 1440 1260 Speculative Buy

PTBA 7/4/2022 3420 – 3460 3800 and 4000 3360 Hold/ Buy on

Weakness

SMGR 13/4/2022 5800 – 6000 6500 and 6850 5475 Buy on

Weakness TBIG 8/4/2022 2860 – 2900 3130 and 3260 2760 (daily

close)

Hold

TINS 13/4/2022 1770 – 1810 1930 and 2040 1695 (daily close)

Speculative Buy TKIM 13/4/2022 6750 – 6850 7500 and 7800 6725 Hold/ Buy on

Weakness TLKM 18/3/2022 4350 – 4400 4770, 4830

and 4920

4390 (daily close)

Hold

TOWR 25/3/2022 1050 – 1070 1110, 1160 and 1210

1000 Hold/ Trading Sell

UNTR 11/4/2022 28500 – 28700 29600 Switch to

26350

Hold

UNVR 6/4/2022 3640 – 3680 3800 and 4000 3460 (daily close)

Hold

WSKT 15/3/2022 550 – 565 650 and 680 515 Hold

(9)

Indicators

• MACD (Moving Average Convergence Divergence): trend-following momentumindicator.

Disclaimer: PT Binaartha Sekuritas has compiled this report in good faith, using information

Technical Research Wednesday, 13 April 2022