ALAM SUTERA (ASRI) top performer this quarter !

ASRI (ASRI:IJ, ASRI.JK) is one of the best performer this quarter. I personally hold ASRI as my current top holding. It has gained around 60% ytd.

If you look at the chart, the 23.6% fibonacci retracement at around 1000 level has failed to support ASRI recently, hence we are anticipating ASRI to touch it's 38.2% fibonacci retracement at 900 - 920 level. Fundamentally, property sector is one of the favorite sector in indonesia equity market. With supply has been limited while demand grows fast in recent years, we are still put a lot of confidence in this stock.

Based on data from reuters, the trailing twelve months PE ratio is around 16.60x. It is significantly much cheaper compare to its peer such as SMRA PE 25, BKSL PE 45, BSDE PE 22. Based on this data, we believe there is still plenty room for this stock to move up further with our TP 1,200. So, get ready to accumulate this stock when it reach 900 - 920 level.