Jakarta Composite Index (JCI) is estimated to show a mixed movement though it may record a limited gain supported by the modest economic data. Some stocks in the real and financial sectors, as reported by Bisnis.com today, which are still the recommended ones include ASRI, AALI, UNSP, TLKM, BBCA and BMRI.
Yesterday, JCI was somehow restrained after gaining in the early session. The selling pressure over some blue-chip stocks made JCI slip 0.05% in the closing session. It is better if we anticipate the further selling pressure considering the Stochastic which still moves downward. Today, the index will swing between 3,530 and 3,571 with recommended stocks such as BBCA and TLKM.
JCI was still under pressure although it was finally closed in the green zone in the closing session yesterday. The movement was still overshadowed by the investors\' selling action, particularly over INDF and ICBP stocks concerning case of Indomie in Taiwan. In the meantime, we predict the index to move mixed with a tendency to gain. The positive economic prospect still somehow attracts the foreign fund into Indonesia. Technically, JCI shall move within the range of support and resistant levels at 3,527 and 3,567.
JCI was closed 1 point (0.05%) higher after a rebound up to 29% amid profit taking actions. Foreign net buy on Monday reached IDR102 billion. The stochastic shows JCI to be out from overbought area yet RSI shows JCI to still be in overbought area due to profit taking. Today JCI is expected to move around 3,506–3,562 with recommended shares like ASRI, AALI,UNSP and BMRI.
The limited gain in JCI in yesterday\'s trading indicated concern among investors on continued consolidation. The weakening foreign buy in the last two days led JCI to move to negative territory. Today the index is expected to gain in limited space and move between 3,513-3,588. Please monitor: JSMR, AALI, and LSIP.
Disclosure: No position at the stock mentioned above.
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