The composite of stock index price(JCI) is expected to bounce back as investors continued their buying action. The JCI' bounce back is sustained by regional and global market conducive, likewise the release sentiment of third quarter 2016 of listed companies.
First asia capital economist, david sutyanto predicted that JCI will move at 5380 and resistance at 5450 in positive territory. Late last week, stock index had strengthened after two sessions corrected, JCI lasted in 5410 before closed at 5399.88 or rose up 59.48/1.1%.
The strength of JCI is sustained by intern factors such as domestic releasing of profit earnings of companies for the third quarter 2016.
While the negative response is the lifting of china's inflation which rose 1.9% higher than the same period of previous period. For a week, stock index price rose 0.42% and continued from the previous week 0.23%, nonetheless the flow of foreign fund was likely to come out with net sale Rp 751 billion after the previous week was Rp 557.84 billion.
The domestic factors played the role yet much more dominated by external factor such as the rising of FED interest rate by the end of 2016. Besides, the import data of china is downtrending and the increasing of commodity prices such crude oil and coal. Within the week, the oil prices has been rising 1% at $50.5 per barrel and has been increasing for 4 consecutive weeks.
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