Feb 1, 2011

Stock recommendations today

Concern on political tension in Middle East affected the global market, including Indonesian stock market yesterday which plunged, sending a net sell of Rp200 billion in the mining and banking sector.
Jakarta Composite Index (JCI) today is expected to lower. However, several stocks such as PGAS, ADRO, CTRS, ANTM, TBLA, ITMG, BUMI, BBRI, and MEDC have opportunity to rebound. Here are stock recommendations provided by several brokerages as quoted by Bisnis Indonesia today.
 
Erdikha Sekuritas:
The JCI yesterday fell 78.44 points or 2.25% to 3,409,17. The index dropped to the lowest level at 3,383.16. The plunge engulfing regional markets dragged down the JCI. The index today is estimated to move at the range of 3,366-3,470. Recommended stocks are PGAS and MEDC.
e-Trading Securities:
The JCI today is estimated to have negative sentiments from regional markets. This would make the JCI to move at the range of 3,372-3,471 with several stocks to watch such as BUMI, PGAS, and BBRI.

Sinarmas Sekuritas:
The JCI today is predicted to move at the range of 3,365-3,469 and has chance to continue its drop. Egypt riot will bring negative sentiment. Several stocks such as PGAS and ADRO should be watched if the prices continue to fall

Reliance Securities:
The JCI technically reaches death cross in which MA3 crosses MA3. RSI indicator shows the down trend. We estimate that the JCI continues its drop at the range of 3,351-3,513. Top picks are CTRS, ANTM, TBLA, and ITMG.

Disclosure: No position at the stock mentioned above.

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