The Insider Stories Morning Notes: JCI testing the support level

JAKARTA (TheInsiderStories) –  Indonesian shares will test the support level amid the commodity price fluctuation, said William Surya Widjaya, an analyst of Indosurya Mandiri Sekuritas.

He  projected the JCI to move mixed today, moving within support level of 5,623 and resistance level of 5,702.

For today, He recommends JSMR, PGAS, KLBF, INDF, UNVR, EXCL, TLKM, ADHI and BBNI stocks to watch.

On Tuesday, the Jakarta Composite Index (JCI) dropped 0.74 percent at 5,646, after moving in the range 5,646 to 5,696. As many as 143 stocks ended higher, helped drive the JCI to close in positive territory after suffering selling pressure early in the day, while 173 stocks weakened and 116 were unchanged.

The transaction value reached Rp6.9 trillion.

Foreign investors booked net buy of Rp393.79 billion. A total of seven out of 10 sectoral indices fell. From Asia, the majority of stock indices rose. In the afternoon yesterday, majority of stock indices in Europe actually weakened since they opened in the afternoon.

The Rupiah was slightly up to Rp13.300 against U.S dollar. (*)