JCI weakened for -0.76% and sagged to 5,865.36 pts, edge lowered by selling pressure on most heavy weight stocks and profit taking last Tuesday. Where 8 out of 10 sectors submerged, led by the Infrastructures, Consumers, Trade dipped for 2.04%, 1.25% and 0.88% respectively.
There were a total of 5,915,062,233 shares traded with a Net Value of IDR5.04tr scored, whereas Foreign Investors posted a total net sell of IDR1.2tr across the board.
A Bearish Harami Candle for the last formation of an uptrend, shows a breather taken by the JCI may lead the market into a consolidation phase and draw down the index to the 5,850 – 5,855 support. However, should some heavyweight stocks in the banking sectors expanded to make some positive movement as they have enough room to do so, JCI would be able to hold on to its support level and go on with its upward trend to get back to the 5,900s level.
Having said that, JCI expected to walk around 5,850 – 5,911 pts for Today’s trading sessions. Yet, you may need to draw your stop loss level at 5,810 pts if the JCI fail to hold on to its 5,850s support.
These stocks might still have some room for trading (TradingBuy); BBCA TLKM BMRI BJBR BJTM BBTN PPRO PGAS AKRA LPPF SMCB WIKA TPIA; Foreign Investors eyed on some of these stocks; SMBR WTON WSBP MEDC ROTI BRPT TBLA MYOR GJTL JRPT LPKR LPCK MDLN ; (OnScreen); BUMI HRTA BWPT BRMS DEWA PWON CTRA SMRA;