At the first session of trading Thursday (05/16/2013) Composite Stock Price Index (CSPI) closed up 15.24 points (0.30%) to the position of 5105.124. Lows and highs 5086.742 5113.139.
Satrio Utomo, head of research at PT Universal Broker Indonesia said the Dow Jones Industrial Average (DJIA) continued to rise and regional sentiment is still positive. "But, JCI difficult to move up significantly because there is still a negative sentiment in the country of the rising prices of fuel oil (BBM) subsidy," he said in Jakarta, Thursday (05/16/2013).
Even so, the condition index at the first session was a lot better than yesterday. Foreign investors already in the net buy position, although the new thin. Selling pressure was much reduced. "The potential rise to 15500-15600 which is seen in the Dow Jones looks to make people still eager to positioning," he said.
Satrio estimates, the rate of JCI Thursday (5/16/2013) in the range of 5075-5115. Potential test record levels? According to him, it's possible. Therefore, strong resistance index in 5125-5150. "The important thing to remember only one: if the 5075 support broken, meaning the uptrend is over," he said.
Satrio himself admitted today still wait and see. "If for example, the Hang Seng could close above resistance 23058-23156 gap, I might want to buy new stock. But if bought, it looks like I just interested at construction stocks or property, "he said.
What about coal stocks? According to him, the stock is already up in support. But, Satri question whether the downtrend in stocks will end. "The final position of PT Indo Tambang Raya Megah (ITMG) is close to Rp30.500 support. However, the potential correction is optimal for the target ITMG Rp23.000-triangle in 25,000, "he said.
Likewise with UNTR which also roughly the same. Price is close above strong support at Rp16.600. "But, after the support of the flats range in Rp17.100 penetrated, the potential for optimal correction can be up to Rp14.000-15,000," he said.
Therefore, he continued, to coal stocks, it helps position only after seen the reversal. "If you've had time to exit the position and would like to buy to buy back is fine. But, if you want to buy new with ngandelin support, there are not a lot good first. Long positions should only be done if there are signs of reversal, "he added.
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