In today’s briefing:
- EQD | E-Mini S&P500 (ES) DAILY Sell-OFF: Where Do You Buy?
- BMRI IJ Initiation: Growth at Reasonable Price!
EQD | E-Mini S&P500 (ES) DAILY Sell-OFF: Where Do You Buy?
- E-Mini S&P 500 Futures closed down at 4971.29 on Tuesday. Big recovery rally at the end of the day, but the sell-off could continue into the end of the week.
- Both the DAILY and WEEKLY time period are already OVERSOLD according to our models, however we see no reason to rush to buy.
- This insight is a roadmap for the next 2-3 days, to find support levels to go LONG, to profit on the next, DAILY, LONG reversal.
BMRI IJ Initiation: Growth at Reasonable Price!
- BMRI is more profitable than BBNI, less cyclical than BBRI and less expensive than BBCA. This combination makes it an attractive play on the Indonesia credit growth story.
- BMRI’s FY23 results are a strong beat with industry-leading loan growth and strong ROE; BMRI also has the potential to aggressively grow its retail portfolio which still is likely under-appreciated
- BMRI still trades at a discount to BBRI and has the potential to re-rate by another 20% in the near term, apart from the compounding driven by strong loan growth.
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