Research

IHSG: 6,900 Target Achieved, Buy The Dip

market-avatar

Algo Research Team

Market | Jun 13, 2024 | Views: 2549

The content provided here is for informational purpose only. It is not an advise or recommendation. Please do your own research.
content-img

Key Summary:

  • Remain constructive on Coal & Tech
  • Unemployment suggests dovish Fed
  • IHSG tactical is getting attractive

Market is so bearish that our contrarian mind is starting to become more tactically bullish. Buy the dip.


After 3 months of waiting, our IHSG target of 6,900 that we called in early March (read here: Mind The Gap) is finally achieved largely on the back of rising USD, inflation, "higher-for-longer" interest rate and lack of growth catalysts for the Indonesian market.

How was our research?

DISCLAIMER: Algo is an independent research platform and is not affiliated with any financial institution. We are not a licensed securities dealer, financial advisor, broker, or investment bank. The contents shared across our website, and social media platforms are intended for informational purposes only and reflect our views and opinions. It is not meant to be construed as financial advice and/or a recommendation to buy or sell an asset. Past performance does not guarantee future results. As a research platform, our contents are made to provide data-driven information and research-based articles, and should not be used as a basis for making any investment decisions. We strongly encourage you to conduct your own research and consult with a licensed financial advisor before making any investment decisions. Algo is not regulated by OJK (Otoritas Jasa Keuangan) and does not provide any investment services. We are not responsible for any financial decisions you make based on the information provided. All content is presented with the intent of informing only.