JCI Maintains in Green Zone
13 October 2015 07:48 WIB
TEMPO.CO, Jakarta-Until the close of trading Tuesday afternoon, the Composite Stock Price Index (JCI) is still firmly in the green zone. Indonesia NH Korindo Securities analyst Reza Priyambada said, the JCI is still affected by positive sentiment that makes it even more powerful.
"The absence of negative sentiment makes the index rate strong enough to maintain its position in the green zone," Reza said in a press statement on Tuesday, October 13.
Reza said that shares buying activities were on bigcaps, among others HMSP, AALI, UNVR, BBRI, UNTR, ITMG and a number of mining companies that are still showing gains adding positive sentiment.
"Buying is still sufficient to support despite noticeable decrease," he said.
Although the strengthening of rupiah began to decrease, the JCI attempts to survive in line with the rise in the number of Asian stock markets.
"Amid the potential for reversal, the rate of JCI is trying to move positively with maintaining the increasing trend,” Reza said.
He added that as long as sentiments are still positive, the rate of JCI will stay afloat in the green zone. However, Reza called for the market to remain wary of the potential reversal if the purchasing volume began to decrease.
In addition, the debt gap in the level between 4,346 and 4,381 is still an obstacle making it still prone to profit taking. Foreign transactions is again on net buy from Rp 175.34 billion to a net of Rp 306.97 billion.
"Although tinged by profit-taking, but apparently it is not too large so that the action has not destabilize the JCI in the green territory," he said.
In trading Tuesday, October 13, 2015, Reza estimates the JCI to be in the support range of 4,572 and 4,584 and resistance between 4,645 and 4,660.
"The JCI will be able to stay above the support target of 4,535 to 4,565, but will not exceed the target resistance between 4,635 and 4,657," he said.
MAYA AYU PUSPITASARI