JAKARTA: A number of securities recommended prospective shares for today’s trading, Tuesday, May 15, 2012. Here is the summary:
Panin Sekuritas
Jakarta Composite Index (JCI) yesterday fell affected by negative sentiment of the Greece political and economic concern which continues to deteriorate and give impacts on other countries.
Selling pressure continued after the European market was opened in red yesterday afternoon. We expected the index today will be depressed even if it is limited.
There has been no reversal signal or good sentiment that can return the index back to the stable zone.
JCI is projected to test the support area within a range of 4,000-4,020, while for the short-term resistance will be at 4,068.
e-Trading Securities
Based on technical analysis, JCI was down as bluechips stocks began to enter the oversold area. Support level of JCI was at 4,80, thus it penetrated so that the support level was at 4,40 and 3,80.
From the indicator movement, stochastic is already oversold and MACD is same with the position of November 2011 which was in the negative area. Slope RSI still gives room for another correction until RSI touched its bottom.
If you look at MACD of JCI from weekly data, then signal in MACD was intersecting, thus it will become a final result whether there will be deathcross or reversal in today’s JCI.
Today, the level of 4,040 will be tested and, if it is able to survive, there will be a technical rebound to the level of 4,080 as the nearest resistant level which will open re-test opportunity to the level of 4,170, but if it is failed, then JCI will slip to 3,890.
Some stocks are worthy for closely watch in today’s trading are PGAS, GGRM, TSPC, MAIN, JPFA, UNVR, and ASGR.
Sinarmas Sekuritas
Today, the technical analysis shows JCI will continue to fall, while it will move within a range of of 4,010-4,070, pressured by negative sentiment from Europe.
Some political developments in Greece about the formation of the new government which has not been completed, thus it raised a speculation on Greek’s plan to walk out from the European Union.
Then rising bond yields of Spain and Italy sparked fears. Stocks that can be considered for today’s trading are KLBF, TSPC, HMSP, GGRM. (t03/msw)
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