Sep 28, 2010

Stock recommendations today

Jakarta Composite Index (JCI) is predicted to show the positive trend as foreign investors dominate the trade in the market. Banking shares are in the top recommend list, followed by commodity shares.
Here are recommendations from several securities companies as quoted from Bisnis.com today.

Trimegah Securities:
Jakarta Composite Index (JCI) successfully recorded the new high after jumping by 2%, as regional and global markets strengthened partly gave positive sentiment to the market condition.
The formation of golden cross in Stochastic was an indication of a chance to further uprising. The index today is predicted to move within the range of 3,446-3,494, with recommended shares are BBRI and SMCB.

eTrading Securities:
JCI strengthened by 70 points (+2.01%) to close at 3,468 as foreign investors recorded Rp394 billion net buy, mainly in banking and coal-mining sectors. Today, the index will move within the range of 3,428–3,486, and several shares to watch are BJBR, BUMI, ADRO, and BRPT.

Panin Sekuritas:
JCI jumped more than 2% yesterday, mainly boosted by banking sector. Expectation on low inflation and prosperous economic growth make Indonesia remain attractive for foreign investors. 
Today, the index is forecasted to potentially rise, tenting the next resistance level at 3,500. In the meantime, the support level is at 3,432. The shares in banking and consumer goods sectors seem to be interesting choices in trading today.

Sinarmas Sekuritas:
JCI wil potentially test the psychological level of 3,500 today as foreign funds flow greatly in to domestic market. Be aware of the profit taking action, considering than the index gained relatively high in the last two days. The index will move within 3,385-3,537. Watch: BBRI, JMSR, and INDF.

Reliance Securities:
JCI surged by 2% yesterday, led by ASII, BBCA and GGRM as net buy was recorded as much as Rp185,573 billion. The index is prone to profit taking action today, as a US report, which will be released today, predictably will show a drop in consumer confidence that will give negative sentiment to regional markets. The JCI will move between 3,425 and 3,517. Recommended shares: BBRI, BDMN, ADRO, and INCO. 

Disclosure: No position at the stock mentioned above.

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