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The Insider Stories Morning Notes – JCI may extend gains


JCI may maintain positive momentum

JAKARTA (TheInsiderStories) – The Indonesian stock market is expected to extend its gains on Monday’s trading (March 21) in line with higher close of Wall Street stocks on Friday and positive economic indicators at home.

On Friday (March 18), the Jakarta Composite Index (JCI) closed up 4.208 points or 0.09 percent at 4,889.896 points. off a high of 4,908.260 points and a low of 4,858.585 points.

Gainers led lossers, 162 to 138, while 92 stocks were unchanged. The total transaction volume reached 5.947 billion shares valued at Rp7.864 trillion.

US stocks closed higher Friday, extending the rally that followed the Federal Reserve’s accomodative policy decision earlier in the week. Dow Jones closed up 20.8 points or 0.69% at 17602, Nasdaq was up 20.7 oints or up 0.43 percent at 4,796 points and S&P index was up 8.99 points or 0.44 percent.

A slight recovery of mining sector stocks and weakening of US dollar to the Rupiah may encourage investors to buy selected mining stocks.

Reza Priyambada, Head of Research NH Korindo Securities Indonesia said the JCI is expected to trade within support level of 4,822-4,853 and resistance level at 4,918-4,930 points.

Technically, he said, the last candlestick’s actually same as the last day (Bearish doji star), the price movement is a reflection of market players being accumulated gains during this week. If the JCI is traded above targeted support level at 4,827-4,862 and is now moving close to NH Korindo’s resistance area target at 4,910-4,922 points.


Stocks to Watch, according to NH Korindo Securities, are including:

TOTL trading range at 680-735

PWON, trading range at 535-565

INCO, trading range at 1790-2045


MAPI, trading range at 4770-4955

UNVR, trtading range at 44,350-44,575

MNCN, trading range at 2035-2185



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Source: The Insiderstories
The Insider Stories Morning Notes – JCI may extend gains

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