A room for rebound in the index is opened after a hard hit in the last two days of trading. Read the followings for your trading recommendations today as reported by Bisnis.com today:
Today, Jakarta Composite Index (JCI) will stay in the range of 3,630-3,730 as relative strength index (RSI) still stands above 50% line. Previously, the index was closed down 19 points (-0.53%) to 3,658. The index rebounded after touching 3,619, creating a harmer formation which indicated a reversal. Selected shares for today's trading are NIKL, CMNP, GZCO and BUVA.
Today, JCI is predicted to rebound and fluctuate in the range of 3,600-3,656. Meanwhile, after staying in a red zone throughout the trading session, the index was closed down 19.4 points (0.53%) to 3,658.8. Foreign investors made IDR544.8 billion net sell yesterday. MEDC, ITMG, BBCA, UNTR and ASII are the recommended shares.
Today, JCI may have opportunity to rebound that is indicated by buying action in yesterday’s second session confirming a selective buying at the market. The range of support-resistant level is at 3,635-3,678. Yesterday, the index stayed in a negative area amid the rebound at regional markets concerning the military conflict in Korean Peninsula, Ireland’s debt crisis, and Chinese monetary tightening.
Today, JCI will run in the range of 3,633-3,670 with BBCA and TLKM as selected shares. Being closed below 20-days EMA, the index is still potentially dragged down as indicated the dead cross formed in the Stochastic movement. Yesterday, the index extended its correction along with the worsening regional sentiments.
Disclosure: No position at the stock mentioned above.
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