JAKARTA: Jakarta Composite Index (JCI) may decline in today's trading due to negative sentiments from Greece's political development and JP Morgan financial loss.
The following are recommendations from brokerages:
Panin Sekuritas
JCI is predicted to weaken and move in range of 4,030-4,180. Stocks to watch: SSIA, KIJA, ADHI, JPFA.
In last week trading, JCI was still overshadowed by external negative sentiment related to JP Morgan financial loss. Moreover, the sentiments from the concern that Greece may out from European zone and victory of the socialists in the recent election put pressure on the index movement last week. European crisis may not be overcome in a short time.
e-Trading Securities
Based on stochastic indicator, CCI and MACD Histogram, JCI still overbought on a weekly basis. Therefore, we need to pay attention toward the level of 4,040 in the trading early this week since it may drag JCI to 3,890 if it manages to penetrate to such level.
However, JCI will continue bullish if it manages to hold on and may climb again to 4,140. Stocks to watch: GGRM, INTP, SMGR.
In Friday's trading, JCI was closed down 19 points (-0.47%) to level 4,114.14 with transactions of 9.49 million lots or equivalent to IDR6.18 trillion.
According to technical analysis, the index moved down and penetrated its support level of 4,130 to a new support level of 4,040.
Although in linear regression there is a chance of technical rebound at 4,080 but reversal may occur after 4,040 is tested.
Stochastic indicator and MACD histogram began to show signs of technical rebound.
Sinarmas Sekuritas
According to a technical analysis, JCI may continue to weaken in range of 4,070-4,140. Greece's political development related to the formation of the new goverment that could affect bailout policy may bring sentiment toward the index.
Stocks to watch: INDF, CPIN, ACES, GGRM. (T06/msw)
Showing 0 - 0 of 0 comments