Nov 9, 2010

Stock recommendations today

Jakarta Composite Index (JCI) again recorded new high level amidst the problematic issue related to PT Krakatau Steel's initial public offering (IPO) on this Wednesday.
There is a chance for strengthening today, despite possibility for profit taking after the index strengthened in the last few days. So what shares are worth to be collected? The followings are recommendations from a number of securities as reported by

e-Trading Securities:
The JCI was closed 43 points or 1.2% higher at its all time high of 3,699. Foreign investors conducted a net buy of IDR203 billion and most of it went into the mining sector. There is possibility that it will reach 3,750 after penetrating the resistance level. The shares that need to be noticed today are SMCB, INDF, INCO and BUMI.

Panin Sekuritas:
JCI strengthened yesterday as supported by the purchase on stocks of commodity sector, consumer and telecommunication. It indicated that the foreign inflows have also boosted the index's movement. Today, we are estimating that the index will move in limited spare because it will be overshadowed by profit taking considering the index trading significantly higher in the last few days. The average support-resistant levels are 3,672 to 3,712.

Trimegah Securities:
Amidst positive movements at the regional exchanges, the JCI successfully recorded its new high by closing at 1.2% higher. The index was also successfully closed above 238.2% of fibonacci projection that was formerly the resistant level of the index. This was supported by the trend of stochastic increase confirming high purchase interest. There is a chance for further strengthening borrowing those two catalysts. JCI's movement today will be in range of 3,685 to 3,720. The recommended stock are INCO, INTP and JSMR.

Sinarmas Sekuritas:
The JCI has successfully penetrated the resistant level of 3,670 after extending its third straight rallies yesterday. JCI has chance to strengthen today and will potentially test the next resistant level at 3,780. Please monitor these shares, i.e. SMGR, INDF, BUMI and ISAT. 

Disclosure: No position at the stock mentioned above.

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