Danareksa's Stock Recommendations for Monday

Market Overview

The Composite Stock Price Index (IHSG) closed 0.10% lower at 8,609 on the last trading day. Despite this minor decline, foreign investors recorded a significant net buy of Rp438 billion in the regular market. Technically, the IHSG remains positioned above the crucial 8,550-8,570 support area, indicating potential for limited upside movement.

Technical Analysis

The current technical position suggests that while the IHSG has maintained its position above the support area, it faces resistance in the 8,620-8,656 range. This resistance level will be crucial in determining the short-term market direction.

Danareksa's Stock Picks

Danareksa recommends investors to buy AMMN, ENRG, and UNVR while considering selling MIKA on Monday. These recommendations are based on the current market conditions and technical analysis.

Market Outlook

The ability of IHSG to stay above the 8,550-8,570 support zone is positive for market sentiment. However, the resistance level between 8,620-8,656 will be critical to watch. A break above this resistance could signal further upside potential, while failure to breach it might lead to consolidation.