Equityworld Futures, Jakarta Composite Index (JCI) is projected to move lower. Range of motion JCI will be in the range of support 5247 and resistance 5350.
PT Reliance Securities analyst Lanjar Nafi explained, JCI fell slightly 8.69 points to 5301.24 yesterday. JCI weakening depressed industrial stocks.
“Miscellaneous industries sector became suppressor JCI today with weakened 1.74 percent where motorcycle sales data dropped significantly year on year (YoY) to 15.9 per cent from the previous period,” he said in Jakarta, Thursday (12 / 1/2017).
He also said, CSPI also depressed due to selling by foreign investors. Noted, foreign investors did sales of Rp 121.45 billion.
“Foreign investors are still net sales of Rp 121.45 billion,” he said.
While Asian markets are likely to strengthen. Reinforcement is supported by rising commodity prices.
“Commodity price fluctuation of raw materials successfully boosted optimism equity markets in Asia,” he said.
Lanjar recommend the shares of PT Astra Agro Lestari Tbk (AALI), PT Aneka Tambang Tbk (ANTM), Regional Development Bank of West Java and Banten Tbk (BJBR), PT Indosat Tbk (ISAT), PT Timah Tbk (TINS).
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