Market Watch: Index may continue to weaken, buy BUMI, SMGR

Bisnis.com,20 Jul 2011, 00:22 WIB
Penulis: News Editor

JAKARTA: Jakarta Composite Index (JCI) is predicted to face another correction today.Sinarmas Sekuritas said that technically the index will weaken to 4,006-4,037. It recommends 'buy' shares like BORN, CMNP, BUMI, and INTP.Similarly, Panin Sekuritas is anticipating another correction in the index as investors still concern on US and European macro economies."Although it is corrected, the index is still in the uptrend pattern at support-resistance level of 3,994-4,038," it said.It noticed that profit taking hit the index since yesterday after successfully breaking new record high. "We see the correction is still at tolerable level. Some blue chip shares have already made new record highs," Panin noted.

In the meantime, e-Trading Securities predicts the index to consolidate today at 3,980-4,042. It recommends shares like DEWA, GJTL, and SMGR. (NOM)

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