IHSG - Still Sideways Pattern Continue Home Week

Jakarta - Composite Stock Price Index (CSPI) / IHSG , predicted the movement would continue horizontally (sideways) to trade in the coming weeks, especially if there is no positive sentiment that makes JCI is able to penetrate resistance at 2820 levels.

In the last week, CSPI (IHSG) moving in the range of 2823.251 at the close of June 4, 2010 and closed on the closing level of 2801.899 on June 11, 2010. JCI (IHSG) movement tend not to fluctuate in the trading week yesterday.

According to PT Samuel Securities analyst Muhammad Al-fatih, JCI movement range at the weekend to support 2700 resistance 2820. He said that if there is no sentiment that is able to make these boundaries through the Composite Index, the Composite Index will likely continue the sideways pattern in the same range in the coming week.

"If the limit of support and resistance are not able to penetrate (IHSG) CSPI 2700-2820, apparently next week is still going sideways and not fluctuate," he said.

Al-fatih also said the negative sentiment is basically the debt condition of European countries have started to fade alias does not significantly influence the JCI movement. Therefore, this should be a good momentum to lift the 2820 JCI pierce resistance.

Unfortunately, the carpet of the World Cup 2010 in progress at the same time. For the record, the World Cup 2010 always make daily transactions dropped dramatically in terms of both volume and value of the transaction.

"Based on the history of stock trading, indeed every World Cup it decreases transaction. We do not know the exact cause, but it was always like that. The movement of the rising and falling so casually, just a thin all their transactions," said Al-fatih.