JCI likely to be mixed after long weekend
JAKARTA (TheInsiderStories) - The Indonesian market is expected to move mixed today as market players may opt for buying selected stocks and offload other stocks, while waiting for new market sentiment. Globally, the market was still muted following bomb blast in Brussel, Belgium and suicide bomb in Pakiskan on Sunday.
The JCI is expected to trade within support level of 4,971-4,816 points and resistance level of 4,865-4,883 points, Reza Priyambada, the Head of Research NH Korindo Securities Indonesia (NHKSI) said.
Last Thursday, the JCI fell 27.089 points or down 0,56 percent to close at 4,827.087 points, while LQ45 index lost 5.231 points or down 0.62 percent to close at 838.557 points.
Throughout the week, the Jakarta Composite Index (JCI) was in the red zone as foreign investors decided to offload stocks.
Reza said that the JCI movement was still expected. Technically, the sell-off of stocks have eased and there were signs of buying inerest. “If the buying actions improved, the market may have the opportunity to rebound,” he said. (*)