JCI Passes 5,300bps Target in First Session
20 May 2015 14:12 WIB
TEMPO.CO, Jakarta - Positive sentiments from the Nikkei's sharp gain yesterday helped the Jakarta Composite Index (JCI) to continue with its uptrend. Investors' optimism over an improvement in stock ownership causes the index to shot up by 25.67 points (0.49 percent) to 5,295.04.
NISP Securities' analyst Fita Fitria said the Nikkei's jump encouraged the JCI to reach its nearest target of 5,300 bps. After two weeks of hitting a new break high, the JCI is signaling that it will reach the next resistance point.
"Technically, the JCI is chasing it targets," she said.
However Fita reminded that the JCI gain is not without risks, as constant gains will cause most stocks to be overpriced.
In today's first trading session, the JCI closed at 5300.72. Investors are advised to profit take on LPKR, WIKA and LPPF.
With an up rate of 0.7 percent, banking stocks are still the backbone of the index. BBRI rose 1.0 percent to Rp12,400 per share, BMRI inched 0.4 percent to Rp11,250 per share, and BBCA gained 1.6 percent to Rp13,875 per share.
MEGEL