The Insider Stories Morning Notes – JCI seen flat ahead of weekend

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JAKARTA – Indonesian shares are expected to be mixed as market players are cautious awaiting for fresh leads, while market players may opt for profit-taking ahead of the weekend.

The Jakarta Composite Index (JCI) closed down 10 points or down 0.19 percent to 5,371.08 with transaction value reaching Rp4.5 trillion. Some market players say the JCI was under selling pressure after the governmetn revised GDP growth for 2017.

Six sectoral indices declined, led by infrastructure stocks, while basic industry, consumer and agriculture industry stocks increased. As many as 145 stocks increased, 181 declined and 96 stocks were unchanged.

Bahana Securities expects the JCI to be mixed, moving within support level of 5,350 and resistance level of 4,500. The rupiah was trading at Rp13,063 to the US dollar at the closing market on Thursday.

Asjaya Indosurya expects the JCI to be moving within support level of 5,336 and resistance level of 5,458.

Indosurya said the JCI still in consolidation phase. If it breaks the resistance level, it may form uptrend in the short term. “Today, JCI still has a good chance to go up,” it said.

Today’s menu  (according to Indosurya):

– PGAS

– JSMR

– TBIG

– UNVR

– INDF

– PWON

– EXCL

– BBNI

– BBCA

(*)

 

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Source: The Insiderstories
The Insider Stories Morning Notes – JCI seen flat ahead of weekend

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