JAKARTA - The rise in world commodity prices are expected to provide an opportunity for Indonesia to strengthen exchanges on next week's trading session. Head of MNC Securities Research said Edwin Sebayang began rising prices of commodities such as crude oil, gold, palm oil, and nickel will give a positive sentiment for the movement Composite Stock Price Index (CSPI)."It was also supported by a sharp rise in U.S. stock amounting to 1.45 percent and European stock average rose 1 percent," he described.
Edwin also added JCI also likely to strengthen over the release of the issuer's financial statements the third quarter of 2011 with average total growth in earnings per share (EPS) grew issuers still above 30 percent.
"Growth in average earnings per share (EPS) in Indonesia Stock Exchange listed companies are still showing a positive thing and not too affected by the global ksisis," he said.
He also recommends the stock a decent collection, among others, PT Astra International Tbk (ASII), PT United Tractors Tbk (UNTR), PT Bank Rakyat Indonesia Tbk (BBRI), PT AKR Corporindo (AKR), PT Bukit Asam Tbk (PTBA) , PT Adaro Energy Tbk, and PT Astra Agro Lestari Tbk (Aali).
"JCI will move with a range of support-resistance at 3600's level." He added volatility index is higher, especially after approaching critical le vel 3600. He estimates that for the short term, JCI will be captured in 3580 as a support level that is strong enough.
"This correction is necessary to strengthen the JCI reversal back to the range of 3800," he said. INDOFILES.ORG