Sep 21, 2011

Stock recommendations today

Dow Jones Industrial Average ended 7.65 points higher, or 0.1%, at 11,408.66, although the blue-chip measure had gained as much as 148.91 points mid session. Standard & Poor's 500-stock index lost 2 points, or 0.2%, closing at 1,202.09, for its second consecutive loss. How about Indonesia stock market today? Two brokerages provide their recommendations as quoted by Bisnis Indonesia today

Minna Padi Investama:
Jakarta Stock Index (JCI) yesterday ended above a support level of 3,733, while massive sell-off was abating. Today, the JCU may rebound with a resistance level of 3,821 and majority blue chip stocks are oversold.

Panin Sekuritas: 
We see an opportunity for the JCI to rebound, following the decrease tension of sell-off. However, the JCI is still affected by rupiah fluctuation against US dollar. Technically, the JCI has created a doji star, indicating reversal opportunity if the index rebounded.

Disclosure: No position at the stock mentioned above.

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