KONTAN.CO.ID - JAKARTA. The IDX Composite Index (IHSG) has the potential to continue strengthening and set a new record in trading on Thursday (14/3). The IHSG closed up 0.53% or 39.30 points to level 7,421.20 in trading on Wednesday (13/3). 

Technical Analyst Binaartha Sekuritas Ivan Rosanova projects the IHSG will continue to strengthen towards 7,503 because the daily closing of the IHSG is above 7,403 with a doji star candle indicating a balance between the buy and sell side. 

"However, a breakthrough below 7,376 can trigger a weakening towards 7,270-7,330," he explained in his research, Thursday (14/3). 

Furthermore, Binaartha Sekuritas projects the IHSG will test the nearest support at levels 7,376 and 7,300. While the nearest resistance test level of the IHSG is at 7,503 and 7,607.

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Here are stock recommendations from Binaartha Sekuritas for Thursday (14/3): 

1. PT Ace Hardware Indonesia Tbk (ACES)

ACES will confirm the formation of wave [iii] with a potential increase to Rp 950 if the price breaks above the fractal resistance of Rp 865. Based on the MACD indicator in a neutral condition.

Recommendation: Hold or buy on weakness Rp 780-Rp 800 Resistance: Rp 890, Rp 950, Rp 1.025 and Rp 1.120  Support: Rp 775

2. PT Aneka Tambang Tbk (ANTM)

ANTM has broken above Rp 1,580 which was previously a fractal resistance and is expected to strengthen to Rp 1,640-Rp 1,705 as long as the price is still above Rp 1,455. Based on the MACD indicator indicating bullish momentum.

Recommendation: Hold or Take Profit  Resistance: Rp 1.640, Rp 1.700 and Rp 1.810 Support: Rp 1.455

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3. PT Bank Jago Tbk (ARTO)

ARTO will maintain the opportunity to rise towards the nearest target at level Rp 3,090 if its price is still above level Rp 2,690. Meanwhile, a weakening below Rp 2,690 will open the way to continue the previous downward trend towards Rp 2,420. Based on the MACD indicator indicating bullish momentum. 

Recommendation: Hold  Resistance: Rp 3,090, Rp 3,210, Rp 3,330 and Rp 3,480 Support: Rp 2,690

4. PT Bank Mandiri Tbk (BMRI)

BMRI is expected to retest resistance at Rp 7,400 as long as the price is still above Rp 6,950 as the nearest Fibonacci support level. Based on the MACD indicator in a neutral condition. 

Recommendation: Hold  Resistance: Rp 7,400, Rp 7,700 and Rp 7,900 Support: Rp 6,800

5. PT Barito Pacific Tbk (BRPT)

BRPT signals a trend reversal because the price has broken above Rp 1,040 which was previously the nearest fractal resistance and is expected to continue the short-term upward trend towards Rp 1,160 as long as the price does not fall below Rp 945. Based on the MACD indicator indicating bullish momentum.

Recommendation: Buy on weakness Rp 950-Rp 1,010  Resistance: Rp 1,080, Rp 1,160, Rp 1,300 and Rp 1,435 Support: Rp 945

Editor: Hasbi Maulana