The Insider Stories Morning Notes – JCI expected to be mixed, profit-taking looms

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JAKARTA (TheInsiderStories) – Indonesian shares are expected to trade mixed today with potential to go down later in the day as some players may cash out following recent days rally. Any declines, however, could offer buying opportunities for others to accumulate stocks, analysts say.

On Monday, the Jakarta Composite Index (JCI) closed up 23 points or up 0.45 percent at 5,220.

Overnight, DJIA fell 0.42 percent, S&P500 edged down 0.42 percent and Nasdaq edged lower 0.05 percent. EU stocks closed mixed, while Asian stocks also ended mixed, with Nikkei closed down 0.04 percent, Hang Seng closed up 0.13 percent and SSE edged lower 0.10 percent.

William Surya Wijaya, head of research of Asjaya Indosurya Securities, said that technically the JCI is expected to move within support level of 5,175 and resistance level of 5,288 points.

He said the capital inflow would help the JCI to maintain its uptrend direction in the short term. Given the ongoing strong capital inflow, he said, the JCI could still go up today, extending recent days rally, although some players already consider that the JCI is now in overbought zone.

Today’s menu:

– BBNI

– WIKA

– LSIP

– TBIG

– SMGR

– BBCA

– INDF

– MAPI

– PGAS

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Source: The Insiderstories
The Insider Stories Morning Notes – JCI expected to be mixed, profit-taking looms

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