JCI Is Predicted To Strengthen On Wednesday, See Stock Recommendations
JAKARTA - The movement of the Composite Stock Price Index (JCI) is predicted to strengthen in trading Wednesday, January 12, after a losing streak in the last 2 days this week.
CEO of PT Indosurya Bersinar Sekuritas William Surya Wijaya said the development of the JCI movement pattern seems to be moving through a reasonable consolidation range. However, the immediate resistance level is trying to be broken.
"The strong fundamentals of the Indonesian economy and the recorded capital inflow in the year to date (YTD) also contributed to positive sentiment for the JCI movement," he said in daily research.
According to him, the JCI has the potential to move within the green zone in the range of 6,518-6,725. The selected stocks are PT Bank Central Asia Tbk (BBCA), PT Astra Agro Lestari Tbk (AALI), PT Indofood Sukses Makmur Tbk (INDF), and PT Gudang Garam Tbk (GGRM).
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Yesterday, Tuesday, January 11, the JCI parked at 6,647.97, down 0.64 percent or 43.15 points. Throughout trading, the JCI moved in the range of 6,636.5 - 6,727.76.
Noted, 135 stocks rose, 426 stocks weakened, and 125 stocks moved in place. Foreign investors recorded a net foreign buy of Rp1.1 trillion.