Jakarta Composite Index (JCI) slightly fell yesterday as investors' sell-off on big cap stocks. Regional markets influenced JCI movement that investors await for The Fed decision.
Concern on a possible higher interest rate in the US market is estimated to shrink capital inflows into emerging market. We estimate that JCI might be prone and mixed with support and resistance level at 3,601-3,650.
JCI retreated 29 points (0.81%) and stood at 3,624. Foreign investors recorded IDR37 billion net sell, while JCI surpassed death cross at the stochastic level, hence lower trend might be happened. JCI today is estimated to be in the range level of 3,612-3,671. Stocks to be watched are TLKM and TINS.
JCI fell 29.64 points to 3,624.47 (-0.81%). The downside trend on mining-based stocks as well as regional markets dragged down and whispered negative sentiments on JCI. The JCI today is predicted to be in mixed ways at the range level of 3,580-3,670. INTP and JPRS are recommended.
JCI failed to maintain rally yesterday after four consecutive days. JCI fell 0.8%. Profit taking from foreign investors put JCI under pressure. After prolonged rallies, sell-off is possible. But, with dead cross trend, investors should be careful on another correction. JCI is estimated to be in the range of 3,600-3,658. INTP and UNVR remain the top picks.
Disclosure: No position at the stocks mentioned above.
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