With relatively comfortable global situation, Jakarta Composite Index will continue its rally today. The Indonesian stocks managed to stay above its psychological level at 3,700 in the beginning of the year. The stronger commodity prices have been the catalyst amid increasing inflation pace in December.
For today's trading, as reported by Bisnis.com, the recommended stocks are TINS, INCO, SMCB, ADRO, INDF, TPIA and TPIA.
The local brokerage said that technically Jakarta Composite Index (JCI) supported with mining sector that benefits stronger commodity prices, will still have momentum to move up. Today the index will test the resistant level of 3,788 and move between 3,700-3,788. The recommended shares are TINS, INCO, and SMCB.
It said that the yesterday's closing at 3,730 will give energy to continue to rally at 3,700-3,765. If the index breaks 3,730 today and the trading volume also increases, the prediction will be realized. The recommended shares are ADRO, INDF and TPIA.
Disclosure: No position at the stock mentioned above.
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