There JCI Opportunity Could Rebound - Composite Stock Price Index (CSPI) today plunged 169 points following a selloff in stocks because investors do negative sentiment from the U.S.. Most foreign investors off stock, net selling value of nearly one trillion dollars.
Close the trade early in the week, Monday (07/08/2013), JCI plunged 169.182 points (3.68%) to a level of 4433.625. While LQ45 Index fell 33.052 points (4.32%) to a level of 731.229. Stocks on Wall Street moved higher to welcome the season issuer's financial performance report. Reinforcement is also encouraged by the improving U.S. economic data at the end of last week. At the close of trading Monday, the Dow Jones rose 88.85 points (0.59%) to 15224.69. Indesk Standard & Poor's 500 rose 8.57 points (0.53%) to 1640.46. The Nasdaq Composite Index increased 5.45 points (0.16%) to 3484.83. Today the index is expected to rebound driven by sentiment positi of global and regional markets. Foreign selling dwindle replaced by domestic investors bought. Movements in Asian bourses this morning:
• The Nikkei 225 index rose 133.24 points (0.94%) to 14242.58.
• thinning KOSPI index 1.42 points (0.08%) to 1815.43.
Recommendations for stock trading today: Panin Securities
Index yesterday tumbled driven down by fears of the threat of high inflation and rising interest rates in the BI Rate. Aside from domestic, external factors that drive regional index lower is fear stimulu reduction, following some economic data such as employment data showed a positive growth. Aside from the U.S., global investors are also worried that China's growth will be restrained by tightening credit. Today we estimate JCI still be weakened, although selling pressure will abate. 4370-4470 range of support-resistance. eTrading Securities
Yesterday, the index closed down -169.18 points (-3.68%) to 4,433.63 by the number of transactions as much as 7.4 million lots, equivalent to Rp4.5 trillion.
JCI movement sectors al agricultural sector (-3.29%), basic-industries sector (-3.82%), construction and property sector (-5.93%), consumer goods sector (-4.64%), finance sector (-3.99%) , infrastructure sector (-0.87%), mining sector (-2.84%), misc-industries sector (-3.29%), and the trade sector (-4.38%). As many as 30 stocks gained, 200 shares declined, 56 stocks unchanged and 142 shares not traded at all. Stocks that occupy the top gainers a.l. PGAS (+1.80%), BII (+2.94%), SMCB (+1.89%), BNLI (+1.27%), and MIDI (+7.69%). Meanwhile, stocks that occupy the top losers al BMRI (-7.36%), BBRI (-5.81%), ASII (-3.70%), UNVR (-4.44%), and BBCA (-4.21%). Registered foreign net sell in the regular market of Rp885 billion, with most shares sold al BMRI, BBRI, SMGR, BBCA, and INTP. Rupiah depreciated 9.956 per U.S. dollar.
Technically JCI produces a signal attenuation dead cross on the MACD indicator, it indicates today JCI is the potential to continue the correction. With support and resistance 4.370 4.580. As for the stocks that can be considered are: BMRI, LPKR, SMCB.
Sources: detik.com
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