Research

IHSG: Waiting For The Pullback, Take Profit

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Algo Research Team

Market | Jan 23, 2024 | Views: 252

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Key Summary:

  • Would there be spillover from Chinese stocks crash?
  • Possibly longer uncertainty from election
  • Not much upside from here, take profit

As the market is now trading at around 7,200, we think it is best to take profit on names that have done well like the Big-4 banks (or large caps) and Barito group proxy such as TPIA, while waiting for the pullback that we expect to occur in the short term that could bring the market down to 6,950-7,000.


Our short-term negative expectations come from:

How was our research?

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