Jan 10, 2011

Stock recommendations today

Indonesian benchmark stock index is predicted to retreat today on the sell-off. Despite a downward trend, investors might consider to accumulate stocks. Here are recommendations provided by local stock brokerages today as reported by Bisnis.com.

eTrading Securities:
We estimate that Jakarta Composite Index (JCI) today tends to decrease on the sell-off. The JCI is predicted to move between the range of 3,535-3,689.
Despite lower prices, investors should accumulate several stocks such as ASII, BMRI, and BLTA. 
The index last week dropped 104 points or 2.81% to 3,631.45, despite a prompt respond by Bank Indonesia on upward trend of inflation. Banks and industry sectors suffered the most of the massive sell-off. Foreign investors were recorded IDR1.5 trillion net sell.

Erdikha Sekuritas:
The JCI fell 2.81% in the closing session Friday last week. The whole sectors suffered massive sell-off with the financial sector dropped the most of 3.71%.
Technically, the index is in the downtrend phase at the range of 3,581-3,708. Recommended stocks are BBRI and PTBA, buy on weakness.

Batavia Prosperindo Sekuritas:
The JCI correction is estimated to the level of 3,590-3,600. The weekly resistance level is at the level of 3,700-3,725. Investors should be wait and see position. Stocks such as HRUM, PTBA, ITMG, and BORN are available for buy on weakness.

Disclosure: No position at the stock mentioned above.

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