Sep 27, 2010

Stock recommendations today

Today, Jakarta Composite Index (JCI) is predicted to show strengthening trend. However, profit-taking action is possible, which may weigh on the index since a number of shares are overbought.
Several securities companies gave their recommendation as following as reported by Bisnis.com today:

Trimegah Securities:Rebound in most bluechip shares became a catalyst for the JCI to move in the positive area after it dropped in the opening. The gain was led by mining sector, consumer goods and financial sector, with at least 2% increase. However, investors must be aware of high volatility in the market. The index today will move within the range of 3,353-3,421, with recommended shares are BBRI and UNVR.

eTrading Securities:JCI on Friday strengthened by 60 points to close at 3,397. Foreign investors made net buy as much as IDR475 billion, with ASII, banking and BUMI as the main drivers. Today the index is forecasted to extend the gain with resistance 1 around 3,405. It will move within the range of 3,360-3,420, with shares to watch are BBNI, BUMI, BRAU, and BBRI.

Sinarmas Sekuritas:Foreign investors in Indonesia Stock Exchange (IDX) successfully lifted the index to positive area. Net buying by foreign in the market last week was worth as much as IDR475 billion. Profit taking action by investors in today’s trading must be closely monitored, considering that most shares are in overbought area. The index is testing the resistance level at 3,418. Recommended shares: BMRI, BBNI, and BBRI.

Erdikha Sekuritas:JCI rose 60.43 points last week to close at 3,397.63 (1.81%). The gains of mining and banking sectors were the motor of the index. The investors should aware that the index will test the level at 2,400 and technically is prone to profit-taking action. The movement will be within the range of 3,320-3,420. Banking shares remain attractive.

Disclosure: No position at the stock mentioned above.

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