Indonesian stock benchmark today may post further gain after advancing 0.74% to 3.416.77 on Monday. Regional stock markets movement and publication of economy data in holiday are estimated to be positive catalyst for Jakarta Composite Index (JCI). Here are today's recommendations provided by several brokerages as quoted by Bisnis.com:
The JCI technically may continue to climb in which RSI indicators show a rise momentum. The JCI was closed above MA3 and MA5. The JCI movement may be at the level of 3,395 for support and 3,430 for the first resistance and 3,455 for second resistance. Stocks to watch: ASII, PGAS, ADRO, and PTBA.
The JCI today is expected to move at the range of 3,342-3,458 with recommended stocks such as BBCA, ITMG, and AALI.
Sinar Mas Sekuritas:
The JCI today is technically moving in mixed upward at the range of 3,430-3,520. Regional stock markets' movement and economy daya published during holiday could provide positive catalyst for the index. Stocks to watch: ADRO, KLBF, and PTBA.
The JCI may continue its mixed upward after gaining in 2 straight trading days. The JCI strengthening will be underpinned by regional stock markets as well as commodities rebound. The announcement of Japanese GDP above expectation could contribute positively to the JCI.
Mining, plantation, and cement-based stocks could be alternative for trading today. The support-resistance levels are 3,390-3,439.
The JCI was close higher 25 points or 0.74% to 3,416.77. All sectors strengthened, especially miscelenous industry which rose 2.18%, while basic industry and infrastructure lowered 0.068% and 0.073% respectively. The JCI may continue to higher level of 3,396-3,451. Recommended stocks are BUMI, PGAS, and LPKR.
Disclosure: No position at the stocks mentioned above.