Jakarta (Benchmark News) – Composite stock price index (IHSG) in trading Monday (16/1/2017) could potentially be moving in the range of support in 5,246, whereas resistennya is expected to be at 5,305.
According to capital market practitioners, Stephen Mulyadi Handoko, JCI possibility will still continue its consolidation on this week. After experiencing a correction of 5 days in a row, very open potential for JCI to undergo a technical rebound in the early weeks. But to be able to continue strengthening. JCI must be able to penetrate over 5,360 action with a solid buy.
“Keep doing the safe trading in short-term trading strategies. There is no harm to delay the entry while waiting for a clearer signal. While for investors, do not forget to monitor the financial reporting issuers that are likely in the near future will be released. Can do a buy on weakness by way of gradual buying in stocks that are estimated to still have the prospect of a brilliant performance to the next, “he said of the week (15/1/2017).
For a while it doesn’t look buy action, considering there is no positive sentiment is strong enough that it can encourage further increases. Besides foreign investors also continued selling action even though it doesn’t look significant.
While at the weekend, market participants should be cautious ahead of the appointment of Donald Trump as the US President-elect on 20 January 2017. “Investors still await the contents of speech Trump at the inauguration.”
JCI group has started to look after the rally a rise that occurred since the last week of last year. After a rally of about + 6.7% of the lowest level at its highest at up to 5,022 5,360. Due to year-end window dressing action and then followed by the January effect earlier in the year, JCI begins to look down due to the action of profit taking. “All last week, JCI rectified 5 consecutive days, without the day when capable in close in the positive zone.”
Though depressed, but still have not seen strong selling pressure. Technical basis, the condition of the JCI group are still visible even though it has undergone corrections in 5 days in a row.
Technical indicator Stochastic tend to move down, while the MACD still moving horizontally above the centreline. From these conditions, showed that JCI still moving positively but started this group in the short term.
The JCI movement range for this weekend is expected to be in the range of 5246-5360. Transpiration resistant 5,360 upwards, will lead JCI headed over in the gap area of 5,380-5.443. Whereas if it penetrates to the bottom support 5,246 JCI potentially great, then headed down gap 5.112-5,379 … (Red).