IHSG Opened Bright And Cheerful, Analyst Recommends Indofood And Sido Muncul Shares

JAKARTA - The Jakarta Composite Index (IHSG) opened in the green zone in early trading week. JCI opened up 0.37 percent or 18.93 points to 5,122.35 on Monday, October 19 trading.

Opening the trade, 151 stocks rose, 29 stocks fell, and 137 stocks remained unchanged. The trading volume was recorded at 253.12 million shares with a transaction value of IDR 173.96 billion.

JCI movement in today's trading has the opportunity to continue the strengthening trend, even though at the end of last week it experienced a minor correction of 0.03 percent to the level of 5,103.

"Technically, it indicates a potential strengthening in the JCI movement, so that the index has the opportunity to go to the closest resistance level," said PT Binaartha Parama Sekuritas analyst Muhammad Nafan Aji Gusta Utama in his research.

So far. He said, JCI continued to try to stay above the support level of 5.023, while the closest resistance target that was trying to be reached was at the level of 5,187.

Thus, explained Nafan, the potential for a strengthening in the JCI movement could be exploited by investors by accumulating the purchase of shares of PT Kalbe Farma Tbk (KLBF), PT PT Indah Kiat Pulp & Paper Tbk (INKP), PT Pabrik Kertas Tjiwi Kimia Tbk (TKIM) and PT. Sarana Menara Nusantara Tbk (TOWR).

However, according to PT Reliance Sekuritas Indonesia Tbk (RELI) analyst, Lanjar Nafi, the JCI movement in trading earlier this week was prone to pressure and is expected to only play in the support-resistance range of 5,080-5,110.

Technically, he estimates that JCI is vulnerable to experiencing pressure in trading earlier this week, with support-resistance at the level of 5,080-5,110.

Furthermore, Lanjar said that the JCI movement which was overshadowed by the potential for weakening could be addressed by investors by collecting shares of PT Astra International Tbk (ASII), PT Indofood Sukses Makmur Tbk (INDF), PT Industri Jamu and Pharmaceutical Sido Muncul Tbk (SIDO), PT Semen Indonesia. (Persero) Tbk (SMGR), and PT Unilever Indonesia Tbk (UNVR).