JAKARTA: Indonesian stocks today may move in consolidated way with tendency to weaken. Several stock recommendations are quoted by Bisnis Indonesia today.
Jakarta Composite Index (JCI) will weaken but in limited room as it will test strong support level at 3,330.
The securities sets the second support at 3,315 and resistance level at 3,402. Reliance recommends buying SGRO, BBRI, BDMN, and ASII.
The brokerage predicts the index to move around 3,334-3,457 with recommended shares like ASII, SMGR and BMRI.
Sinar Mas Sekuritas:
The JCI may move at the range of 3,334-3,414. Techically, the JCI is estimated in mixed position and nearly oversold despite unfavorable regional factors.The sentiment of Garuda Indonesia's IPO is predicted to propel the JCI. Stocks to watch: BBCA, SMCB, and BNGA.
Disclosure: No position at the stock mentioned above.
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