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Reliance Securities: Still Continue The Trend of Strengthening JCI Moves On The Level 5.370-5.440

Jakarta (Benchmark News) – PT Reliance Securities predicts the composite stock price index (IHSG) in trading on Tuesday (8/11/2016) will try to strengthen with the move at level 5.370-5.440

Reliance Securities analyst Lanjar Nafi said in a technical JCI made it back above the moving average 50 days by trying to break the bearish trend line as a resistance level and trend reversal confirmation short-term trend direction. Stichastic indicator positive crosing near overbought area indicates a rebound movement tends to be more quickly noticeable.

“So the estimated JCI limited will move by trying to confirm the reversal of the direction of the trend with strengthened up to above the bearish trendline at 10,154-5.440 movement range,” he said in the research.

As for stocks, which can be observed today among others, AALI, ASII, BJBR, BBTN, BSDE, GJTL, LPKR, LSIP, SMGR, SMRA, and the MPPA.

Yesterday, IHSG closed strengthened 23.59 points of 0.44% at level 5,386.21 with a fairly high volume. Indonesia’S GDP growth rate on an annual basis that the release still above expectations on levels 5.19% to 5.02% in the earlier period with early expectations down to 5% as well as the business confidence index is still above expectations to become the driving disesi trigger index strengthening both.

Nevertheless, look only at domestic investors optimization where foreign investors thus recorded net sell high enough up to Rp1,07 trillion. Sentiment will further data from China which will release the data export and import activities as well as the level of investment of foreign investors in China and Europe…(Red)

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