Analyst Herditya Recommends ‘Buy on weakness’ for BREN, CUAN, ICBP, and TKIM Amidst Market fluctuations
In a market characterized by potential corrections, analyst Herditya has identified several stocks for a “buy on weakness” strategy, suggesting opportunities for investors to acquire shares at perhaps lower price points. This approach is notably relevant as the market navigates complex wave patterns, with specific price targets and stop-loss levels provided for each recommendation.
Herditya’s analysis highlights PT Barito renewables Energy Tbk (BREN) as a key opportunity. He notes that BREN’s recent price strengthening was accompanied by an increase in purchase volume, indicating positive investor interest. He recommends a “buy on weakness” strategy for BREN within the Rp7,825 – Rp7,950 range. The stock closed the previous trading week at Rp8,000. Should BREN’s price retract to the recommended buying zone, Herditya has set target prices at Rp8,775 and Rp9,275, with a stop-loss recommendation below Rp7,650. He further estimates BREN’s current position within Wave V of Wave (C) from Wave [ii] on the black label.
Another stock on Herditya’s radar is PT Petrindo Jaya Kreasi Tbk (CUAN), also a Prajogo Pangestu-affiliated company. He advises a “buy on weakness” approach for CUAN between Rp1,470 and Rp1,640. Despite closing the previous week up 0.30% at Rp1,655, Herditya observes that the strengthening was largely influenced by selling pressure.For CUAN, he has set target prices at Rp1,375 and Rp1,895, with a stop-loss positioned below Rp1,300.
Herditya also recommends a “buy on weakness” strategy for PT Indofood CBP Sukses Makmur Tbk (ICBP). The stock experienced a price increase of 0.48% to Rp10,400 in the preceding trading week. His recommended buying range for ICBP is Rp10,225 – Rp10,375, with target prices set at Rp10,625 and Rp11,025. A stop-loss for ICBP is advised below Rp10,150. Herditya estimates ICBP’s current position to be within Wave [iii] of Wave C.
PT Tjiwi Kimia Tbk Paper Factory (TKIM) is recommended for a “buy on weakness” strategy at the Rp5,525 – Rp5,575 price level.The target prices for TKIM are set at Rp5,750 and Rp6,000, with a stop-loss at Rp5,425.
these recommendations come as the market navigates potential corrections,with Herditya’s analysis suggesting that limited strengthening might occur at the end of Wave (III) from Wave [c],potentially leading to corrections in the 7,186-7,319 range on the black label.