JAKARTA: The following are recommendations from stock brokerages:
According to technical analysis, Jakarta Composite Index (JCI) is predicted to move in mixed directions with tendency to strengthen in range of 3,870-3,950.
Development around Europe debt crisis toward the possibility of Greece exits from Euro zone as well as policy certainty in handling the crisis will drive sentiment to the index.
Stocks to watch: BMRI, CPIN, SMGR, TLKM.
The index movement today is still overshadowed by issues from Europe and China's economic slowdown, while support-resistance level remains in range of 3,860-3,930.
Rupiah volatility also influences the index movement in the country. JCI is projected to move volatile today, with tendency to weaken limitedly.
Foreign may still conduct net sales amid the rise in the index. We recommend short-term trading in the shares of consumer and property sectors.
Based on technical analysis, JCI rose in yesterday’s closing session with several big cap shares like ASII and BBRI experienced technical rebound.
Stochastic and MACD IHSG indicators were already in oversold area with its support level of 3.838.
In today’s trading, JCI may move sideways with tendency to increase in range of 3.838-4.040. Stocks to watch: ASII, BBRI, BKSL. (Bsi/T06/TW)