JAKARTA: Jakarta Composite Index is predicted to weaken today, following the action of profit taking after gaining a few days earlier.
The following are recommendations from stock brokerages:
Reliance Securities
As for today trading, JCI is overshadowed by indication of profit taking after runaway gap in the past few days.
Stochastic indicator is in overbought area. The correction is estimated to be temporary as, in the long run, JCI will be still under bullish trend with wave 3 intermediate Elliot at 4.125.
Shares that might continue their negative performance are BSDE, CTRS, CPIN, ADRO and INCO.
e-Trading Securities
Sell on strength is recommended in anticipating resistance between 4,080-4,130. However, shares who have starting their uptrend after breaking through from downtrend will be favorable for the accumulaution
Stocks to watch: BISI, AISA, UNVR, and INDF.
Panin Sekuritas
JCI might move in limit amid the concern over profit taking. The index is projected to move in mix with tendency to narrow ranging 4,010-4,070. (T05/msw)
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