Pediafx.com – Tuesday 29 August 2023
Pediafx.com – MNC Sekuritas recommends 4 selected stocks that can be considered for trading menu on today’s trading session, Tuesday, August 29, 2023. Amidst the strengthening of the Indonesia Stock Exchange (IHSG).
According to MNC Daily Scope Wave on August 29, 2023, the IHSG strengthened by 0.4% to 6,921 accompanied by an increase in buying volume. The IHSG managed to stay above the MA20 level in the previous trading session on August 28, 2023.
The Research Team of MNC Sekuritas predicts that the current position of IHSG is in wave v, indicated by the red label, which will continue the upward trend towards 6,966-7,013. However, caution should still be exercised as there is a potential correction towards 6,793-6,800 if the IHSG breaks the support level of 6,834 to form wave iv as indicated by the black label.
Support: 6,855, 6,834
Resistance: 6,966, 7,053
Here are 4 selected stocks that can be considered for trading menu on today’s trading session:
- Stock: ELSA – Buy on Weakness
ELSA gained 0.5% to 392 with an increase in buying volume. As long as ELSA remains above 380 as the stop loss level, the current position of ELSA is expected to be in the early wave [iii] of wave 5, indicating potential for further strengthening.
Buy on Weakness: 384-390
Target Price: 404, 422
Stop Loss: Below 380 - Stock: MBMA – Spec Buy
MBMA rose by 6.1% to 780 with an increase in buying volume, and it closed above the MA60 level. As long as MBMA stays above 735 as the stop loss level, the current position of MBMA is believed to be in the early wave 3 of wave (C).
Spec Buy: 750-770
Target Price: 825, 850
Stop Loss: Below 735 - Stock: MDKA – Buy on Weakness
MDKA corrected by 1.2% to 3,180 accompanied by selling volume. It is estimated that the current position of MDKA is in part of wave [c] of wave B, indicating a corrective movement that can be utilized for Buy on Weakness.
Buy on Weakness: 3,010-3,120
Target Price: 3,370, 3,580
Stop Loss: Below 2,850 - Stock: SULI – Buy on Weakness
SULI rose by 5.9% to 143 with an increase in buying volume, and its upward movement remained above the MA200. The current position of SULI is believed to be in part of wave (iii) of wave [i] of wave C, indicating potential for further strengthening.
Buy on Weakness: 136-142
Target Price: 156, 176
Stop Loss: Below 124
