JCI Opens Strong, Analyst Recommends Adhi Karya And BSD Shares

JAKARTA - The Jakarta Composite Index (JCI) opened in the green zone in trading earlier this week. JCI opened higher by 0.59 percent or 28.98 points to 4,974.77 on Monday, September 28 trading.

Opening the trade, 119 stocks rose, 14 stocks fell, and 86 stocks remained stagnant. The trading volume was recorded at 154.38 million shares with a transaction value of IDR 94.50 billion.

JCI movement in today's trading is expected to continue the strengthening pattern, after last weekend ended in the green zone with an increase of 2.13 percent to the level of 4,945.

According to Binaartha Sekuritas analyst, Muhammad Nafan Aji Gusta Utama, technically, there is potential for further strengthening in the JCI movement, so that the index has the opportunity to go to the resistance area.

"JCI has the first and second support at 4,865 and 4,778 levels, while the first and second resistance targets are at 4,975 and 5,097," Nafan said in his research.

He further said the potential for further strengthening in the JCI rate earlier this week could be exploited by investors by accumulating the purchase of shares of PT Adhi Karya Tbk (ADHI), PT Bumi Serpong Damai Tbk (BSDE), PT Gudang Garam Tbk (GGRM), PT Indocement Tunggal Prakarsa. Tbk (INTP), and PT Wijaya Karya Tbk (WIKA).

A similar estimate was conveyed by PT Indosurya Bersinar Sekuritas analyst, William Suryawijaya, who said that the JCI movement in today's trading would remain in the green zone, with a support-resistance range at 4,889-5,002 levels.

He said, so far the JCI has succeeded in making a technical rebound, after being depressed for some time before.

"The JCI movement still looks strong enough to continue the increase which is supported by sentiment from the progress of the discovery of the COVID-19 vaccine," William said.

In addition, according to William, the positive sentiment that pushed the JCI to strengthen was also influenced by the more stable domestic economic conditions.

"Today JCI has the potential to move in the green zone," said William.