Mar 10, 2011

Stock recommendations today

Concern on profit taking is estimated to shadow movement of Jakarta Composite Index (JCI) today after it gained in the last several days.
Several stocks such as TLKM and MYOR could be watched for today;s trading. Here are recommendations provided by several brokerages as quoted by today:

e-Trading Securities:
The JCI today is calculated to move at the range of 3,548-3,653. Stocks to watch: TLKM, MYOR, and ISAT. The index technically gained in the last 3 days with higher volume. However, it is risk for the JCI to dive. The index yesterday gained 0.51% or 18 points to 3,598.67. Foreign investors posted Rp342 billion net buy with mining and banking stocks recorded the most bought.

Panin Sekuritas:
The JCI today may move in a mixed way at the range of 3,581-3,616. Profit taking still becomes a concern after the JCI rallied in the last several days. Despite the gain, sell action engulfed banking and mining stocks.

Erdikha Sekuritas:
The index yesterday inched up 18.36 points or 0.51% to 3,598.67. It surpassed the level of 3,600, mainly underpinned by all sectors, except basic industry and mining which fell 0.44% and 0.48% respectively. The JCI strives to break Fibonacci Retracement at 61.8% with a resistance target level at 3,630. The JCI may move at the range of 3,581-3,630. Recommended stocks: TLKM, PGAS, KLBF, and GJTL.
Sinarmas Sekuritas:
The JCI today is expected to move in a mixed position at the range of 3,580-3,617. Oil price drop, dragged down by OPEC's plan to set up a meeting discussing additional production quota, will drive positive sentiment to the index. But, investor shall consider profit taking risk. Stocks to watch: TLKM, KLBF, ASRI, and PGAS.

Disclosure: No position at the stock mentioned above.

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