Dow Jones Industrial Average last night made a steep rebound of 4% to 11,239.77 after the Federal Reserves' Federal Open Market Committee gave statement yesterday to keep its fund rate at 0% to 1/4% in a bid to promote the ongoing economic recovery and to help ensure that inflation is at a consistent level. Standard & Poor's 500 Index jumped 4.7% to 1,172.53.
Considering the positive sentiments, Jakarta Stock Index is expected to respond the catalyst as an engine to rebound today. Here are stock recommendations today as quoted by Bisnis Indonesia daily:
The JCI is estimated to swing within the range of 3,568-3,870 with downtrend possibility. Stocks to watch: AKRA, INTA, and BBRI.
The index technically may continue further corrections in the range of 3,650-3,875 today. Stocks to watch: PGAS, BMRI, SMCB, and INCO.
Reliance Securities:The JCI has entered bearish trend phase, ending its prolonged rally since March 2009. The next stop loss limit is 3,704. If the index falls below the limit, the next limit is 3,566.
Disclosure: No position at the stock mentioned above.
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