Continuing positive sentiments in the market could be a catalyst for Jakarta Composite Index (JCI) to move higher today, indicating a better buy appetite. However, the JCI is now in the consolidated phase, which is vulnerable for correction. This is stock recommendations provided by local houses as reported by Bisnis.com today:
The continued positive sentiments in the market somehow may become a particular catalyst to the gain of Jakarta Composite Index (JCI). Rally may take place due to the improved buying interest. However, we should bear in mind that JCI still moves in consolidated phase, thus, it may be corrected anytime. The Indonesia’s benchmark index may swing between 3,635 and 3,671 with recommended shares: RALS, SGRO, and TINS.
Indonesia’s Bank Central estimates Indonesia’s foreign reserve to surpass US$100 billion. Such projection may trigger JCI to post its new highest record. Another factor that may boost JCI’s positive movement today is the continued foreign inflow to the domestic market. The recommended stocks are: TINS, BBNI, SMCB and BMRI.
During last week’s trading, JCI was closed 26 points or 0.72% higher to 3,655.3 as the foreign investor booked IDR278 billion net buy mostly in commodity and mining stocks. Today, JCI may move within the range of 3,600 and 3,667. You should highly anticipated ADRO, BUMI, TINS, and HRUM.
Disclosure: No position at the stock mentioned above.
Print This Article