Composite stock price index (JCI) Indonesia Stock Exchange (IDX) prone action took profit (profit taking) today. Therefore, the potential for strengthening the index began to follow the direction of movement is limited regionally.
"Index-prone profit taking action after five consecutive days have strengthened," said analyst Bumiputera Capital Indonesia Rahardian to Investor Daily Setyasmoro in Jakarta, Tuesday (17/11).
He said the corrections required to create a healthy movement of the index after rising in the last few days. In addition, the positive sentiment index support from inside and outside the country began to slow. Index also requires a new catalyst to continue the movement up to the front.
Rahardian added, the economic data from within and outside the country that can sustain relative index does not exist. Therefore, the transaction will be the focus of investor shares to the regional exchanges and the movement of world commodity prices.
According to him, candlestick indicators form of spinning top which means that the index could move in both directions. When viewed from the movement of a few days earlier, the index vulnerable to the possibility of profit taking.
Index will move to limit the first support 2460 and if the index will be penetrated into a strong support level in 2445. Meanwhile, the upper limit on the movement of resistance index in the first 2485 and second 2500.
In trading yesterday, the index close higher thin 5.11 points (0.20%) to 2473.79. Stock transaction value reached USD 4.34 trillion, with a volume of 97.46 million lots. Foreign investors net purchases print (net buying) shares worth Rp 380 billion.
The index of Asian bourses negative move. Hang Seng Index fell 29.83 (0.13%) to 22,914.15, Nikkei 225 weakened 61.25 points (0.63%) to 9,729,93, and the Straits Times corrected 16.39 points (0.59%) a 2767.46
"Index-prone profit taking action after five consecutive days have strengthened," said analyst Bumiputera Capital Indonesia Rahardian to Investor Daily Setyasmoro in Jakarta, Tuesday (17/11).
He said the corrections required to create a healthy movement of the index after rising in the last few days. In addition, the positive sentiment index support from inside and outside the country began to slow. Index also requires a new catalyst to continue the movement up to the front.
Rahardian added, the economic data from within and outside the country that can sustain relative index does not exist. Therefore, the transaction will be the focus of investor shares to the regional exchanges and the movement of world commodity prices.
According to him, candlestick indicators form of spinning top which means that the index could move in both directions. When viewed from the movement of a few days earlier, the index vulnerable to the possibility of profit taking.
Index will move to limit the first support 2460 and if the index will be penetrated into a strong support level in 2445. Meanwhile, the upper limit on the movement of resistance index in the first 2485 and second 2500.
In trading yesterday, the index close higher thin 5.11 points (0.20%) to 2473.79. Stock transaction value reached USD 4.34 trillion, with a volume of 97.46 million lots. Foreign investors net purchases print (net buying) shares worth Rp 380 billion.
The index of Asian bourses negative move. Hang Seng Index fell 29.83 (0.13%) to 22,914.15, Nikkei 225 weakened 61.25 points (0.63%) to 9,729,93, and the Straits Times corrected 16.39 points (0.59%) a 2767.46
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