Dow Jones Industrial Average on Friday last week rose 37.7 points, or 0.35%, to 10,771, the S&P 500 gained 6.9 points, or 0.61%, to 1,136 and the Nasdaq Composite climbed 27.6 points, or 1.1%, to 2,483. How about Indonesia stock market today?
Jakarta Composite Index (JCI) technically move in bearish trend and may have rebound to wave four at the level of 3,550. The nearest support level is at 3,330 and resistance level at 3,470.
The JCI rebounded 1.70% and ended the steep plunge on Thursday last week. We estimate the index is still affected the debt crisis in Europe. Today, the index may move within the range of support-resistance at 3,360-3,500.
The JCI may technically continue its gain within the range of 3,400-3,483. The proposed intervention committed by G20 countries and intervention by Bank Indonesia will provide sentiments to the JCI. Stocks to monitor: BBRI, BMRI, SMGR, and ICBP.
Disclosure: No position at the stock mentioned above.
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