JAKARTA (TheInsiderStories) - Indonesian shares are expected to move little changed today as the market is still in the consolidation mode. The shares could move up and down in narrow range, as players are waiting for strong signals before accumulating shares.
The Jakarta Composite Index (JCI) on Monday closed down 30.153 points or down 0.63 percent at 4,731.562, while the LQ45 weakened by 7.900 points or down 0.97 percent to 809.125.
Among sectors that weakened are miscellaneus industry, manufacturing and consumer sector. Decliners led gainers 165 to 124 shares, with 90 stocks were stagnant. As many as 3.799 billion shares changed hands valued at Rp 4.83 trillion.
William Surya Wijaya, head of research of PT Asjaya Indosurya Securities, said technically the JCI is likely to trade within support level of 4,710 and resistance level of 4,802 points.
“The JCI is still in consolidation range. The correction momentum can be utilized by investors to start accumulating shares for long horizon,” William said.
He said given recent days decline, there could be technical rebound later in the day.
Today’s menu :
- BMRI
- AKRA
- PPRO
- BBNI
- BBRI
- TBIG
- SMRA
- WSKT
- KLBF
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