JAKARTA (TheInsiderStories) – Indonesian shares are expected to trade higher today, extending Friday’s market rebound. The market’s movement is likely to remain volatile on the back of fluctuation of global commodity prices, analysts say.
Last Friday, the Jakarta Composite Index (JCI) closed higher, recovering losses in previous days trading. The JCI closed up 0.23 percent or up 13.38 points at 5,716.81 points.
Indosurya Sekuritas analyst William Surya Wijaya said the JCI has a good chance to go up today. The fluctuation of global commodity prices, however, could undermine the market movement, he noted.
He expects the JCI to move within support level of 5,672 points and resistance level of 5,797 points today. Any corrections could provide good opportunity for market players to accumulate selected stocks.
Stocks to watch today: