JCI Opens Strong, Analyst Recommends Shares Of Property Companies Owned By Eka Tjipta And Mochtar Riady

JAKARTA - The Jakarta Composite Index (JCI) opened in the green zone on Thursday, October 1 trading. JCI opened higher by 0.71 percent or 34.62 points to 4,904.66 levels.

Opening trades, 69 stocks rose, 6 stocks fell, and 30 stocks remained stagnant. The trading volume was recorded at 50.51 million shares and was transacted for IDR 47.18 billion.

JCI movement in today's trading has the opportunity to experience a technical rebound or strengthen back after yesterday ending in negative territory with 0.19 percent weakening to the level of 4,870.

"JCI is predicted to move with a support-resistance range at the level of 4,816-4,970," said PT Reliance Sekuritas Indonesia Tbk (RELI) analyst Lanjar Nafi in his research.

Thus, he explained, investors could respond to the potential for a technical rebound in today's JCI rate by collecting shares of PT Astra Agro Lestari Tbk (AALI), PT Bank CIMB Niaga Tbk (BNGA), PT Indofood Sukses Makmur Tbk (INDF), PT Timah. Tbk (TINS) and PT Telekomunikas Indonesia Tbk (TLKM).

A different view was expressed by PT Binaartha Parama Sekuritas analyst, Muhammad Nafan Aji Gusta Utama, who estimated that the JCI was again under pressure today.

He said, technically, there is potential for further weakening in the JCI movement. So far, the index is trying to stay above the support level of 4,778, while the closest resistance target that is trying to reach is at 4,975.

He further said, the potential for further weakening in the JCI rate today could be exploited by investors by accumulating the purchase of shares of PT Bank Negara Indonesia Tbk (BBNI), PT Bekasi Fajar Industrial Estate (BEST), PT Bumi Serpong Damai Tbk (BSDE), PT Gudang Garam. Tbk (GGRM), and PT Lippo Cikarang Tbk (LPCK).