The Insider Stories Morning Notes – JCI may extend gains on positive note from Wall Street

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JAKARTA (TheInsiderStories) – Indonesian shares are expected to open higher today, extending last Friday’s close, with gains in Wall Street is likely to inject positive note on local market.

On Friday, the Jakarta Composite Index (JCI) closed up 7.661 points (0.16%) to 4,711.878 points, while LQ-45 ended up 3.222 points or up 0.4 percent at 805.154. Gainers led decliners 147 to 123, with 96 stocks were unchanged. As many as 4.2 billion shares were unchanged valued at Rp5.3 trillion.

Reza Priyambada, head of research of NH Korindo Securities Indonesia, said technically, JCI is expected to trade within support level of 4,690-4,673 and resistance level at 4,729-4,752.

He said overall, the market trend is still on downward trend. The market still needs to test on higher ground, before it reverse trend. “If the market sentiment enables the market to stay positive, we may hope the market could extend its gains. We expect the market to go up, although remains limited,” he said.

Stocks to watch:
– SCMB
– WIKA
– ANTM
– SMGR
– GIAA
– ADHI

 

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Source: The Insiderstories
The Insider Stories Morning Notes – JCI may extend gains on positive note from Wall Street

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