May 30, 2011

Stock recommendations today

Net selling by foreign investors which engulfed the stock market last week seems to end. Foreign investors recorded a Rp274 billion net buying at end of last week. However, the rebound of Jakarta Composite Index (JCI), Indonesia's stock benchmark which measures all stock prices, will triger profit taking. Stocks to watch: ROTI, HRUM, BDMN, INTP, GJTL, UNTR, and AALI. Here are stock recommendations as quoted by Bisnis.com today:

Minna Padi:
The JCI last week ended at 0.46% higher or 17.56 points to 3,823.38. Foreign investors recorded Rp330 billion net buying. Diversified plantation company PT J.A. Wattie Tbk will initiate its debut at Indonesia Stock Exchange today at the IPO price of Rp500 a share. Stocks to watch: UNTR, PGAS, and PTBA.

Sinarmas Sekuritas:
The index technically today tends to move higher withing the 3,800-3,864 range. Stocks to watch: ROTI, HRUM, BDMN, and INTP.

Erdikha Sekuritas:
We estimate that the JCI tends to inch up to test a resistance level of 3,875. The index may swing within the range of 3,810-3,875. Recommended stocks: INTP and GJTL.

e-Trading Securities:
Following a candlestick with hanging man pattern, investors should consider profit taking action, signaling a bearish reversal. Today the JCI may move withing the range of 3,797-3,850 with stocks to watch: UNTR, HRUM, and AALI.

Trimegah Securities:
To close psychological resistance level of 3,850, the JCI today is estimated to be inundated by profit taking actions on several blue chips. If the index fails to break a resistance level of 3,850, investors should consider the downward pressure which will convey the index testing a support level of 3,815. Trading sell: BMRI, UNTR, and ITMG.

Disclosure: No position at the stock mentioned above.  

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