Jakarta Composite Index (JCI) today is estimated to move lower after the first correction following the consecutive 8 days increase. Here are recommendations from local stock brokerages as quoted from Bisnis Indonesia daily:
JCI today is expected to move between 3,709-3,777 after experiencing 1.25% drop as profit taking engulfing the whole sectoral indexes. However, property, trading and services rose. Stock recommendations today are AALI and CPIN.
JCI is estimated to move lower at the range of 3,720-3,752 after cutting EMA (5) line at the position of 3,742. The index was closed 1.25% lower to 3,736.3. Top picks UNTR, BWPT, TLKM, and PGAS.
Technically, stochastic starts showing a downtrend phase, while MACD hasn't provided any sign of the phase. JCI today is predicted to move between the range of 3,687-3,798. Watch ASII, BRAU, MPPA, and WINS.
JCI is expected to walk at the support and resistance level of 3,715-3,751 after experiencing the first drop yesterday in 8 days increase. The drop was dragged down by commodity price drops and the down of stock indexes in Asia as well.
Disclosure: No position at the stock mentioned above.
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