The weakening regional markets will be the main factor that may limit the movement of Jakarta Composite Index (JCI) today. A number of shares that are worth to monitor are ANTM, JSMR, LPKR, UNSP, BLTA, CTRP, PTPP, and INDF.
Followings are some recommendations from the securities companies as reported by Bisnis.com today:
Swinging with high volatility, JCI yesterday was again under pressure and finally closed with 0.4% correction. In this condition, JCI will potentially test the support level of the occuring rectangle at 3,530-3,532. As it can stay above the support level, JCI will tend to consolidate. Today JCI will move between 3,532-3,585 with recommended shares like ANTM and JSMR.
On Wednesday's trading, JCI lost 13 points (0.39%) to 3,578 following negative trend in global markets. Foreign net sell was IDR579 billion with consumer services recording a loss of 1.75%. JCI is estimated to be overshadowed by the movement in global stocks until few days ahead due to US earnings season. JCI today is expected to move between 3,513–3,619 with recommended shares like LPKR, UNSP, BLTA, and CTRP.
A sudden decision by People\'s Bank of China to raise the lending and deposit rates may overwhelm the global stocks, including JCI. The index may swing in the range of 3,546–3,603 with recommended shares like JSMR, PTPP, and INDF.
Disclosure: No position at the stock mentioned above.
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