Apr 3, 2012

Stock recommendations today

After posting the best first quarter in more than a decade, the markets continued on their upward march as a strong reading on the U.S. manufacturing sector reinforced traders' bullish sentiment.
The Dow Jones Industrial Average, as quoted by Foxbusiness.com, climbed 52.5 points, or 0.4%, to 13264, the S&P 500 rose 10.4 points, or 0.74%, to 1419 and the Nasdaq Composite gained 28.1 points, or 0.91%, to 3120.
The global economy is expected to take the spotlight during the holiday-shortened trading week, with key reports on tap every day leading up to the monthly employment report from the Labor Department
The Institute for Supply Management's closely-followed gauge of U.S. manufacturing activity rose to 53.4 in March from 52.4 in February, suggesting the sector is expanding at a quicker pace. 
Meanwhile, U.S. construction spending slid 1.1% in February from the month prior, the biggest fall since July 2011. Economists expected an increase of 0.6%. How about Indonesia stock market today? Bisnis Indonesia provides recommendations:

e-Trading Securities:
Today, Jakarta Composite Index (JCI) may move within the range of 4,131-4,195 with tension of profit taking. Several stocks to watch: BHIT, HRUM, and ENRG.

Reliance Securities:
The JCI may move within the overbought area. The next resistance target is at 4,195 and 4,123 as the support level. Investors are suggested to realize profit taking.

Panin Sekuritas:
Despite the profit taking threat, the JCI may tend to close to 4,200. The index is estimated to move within the support-resistance of 4,126-4,189. Top picks: GGRM, JSMR, KIJA, PNBN, and BDMN.

Disclosure: No position at the stock mentioned above.  

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