The Insider Stories Morning Notes – JCI expected to be mixed on potential profit taking

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JAKARTA (TheInsiderStories) – Indonesian shares are expected to open mixed today with gains in selected sectors are likely to be offset by profit-taking in some stocks following last week’s significant gains.

On Friday, the Jakarta Composite Index (JCI) closed up 26 points or up 0.52 percent at 5,110 points. On the same day, DJIA index rose 0.05 percent, S&P500 fell 0.09 percent, Nasdaq edged lower 0.09 percent. FTSE in London rose 0.22 percent, Nikkei rose 0.68 percent, Hang Seng in Hong Kong edged up 0.46 percent and SSE in Shanghai edged up 0.01 percent.

Mandiri Sekuritas expected the JCI to trade within support level of 5,070 and 5,150 points resistance level today.

Reza Priyambada, head of research of NH Korindo Securities Indonesia (NHKSI), said the JCI is expected to move within support level of 5,050-5,085 and resistance level of 5,150-5,185 points this week. He said the JCI still has the potentiality to stay in green zone today, although it may be limited as there could some potential profit-takings.

Stocks to watch:



AALI

LSIP

SIMP

ELSA

TELE

MNCN

 

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Source: The Insiderstories
The Insider Stories Morning Notes – JCI expected to be mixed on potential profit taking

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