JCI Opens In The Red Zone, Analyst Recommends Waskita Karya And Semen Indonesia Shares

JAKARTA - The Jakarta Composite Index (JCI) opened in the red zone on trading Tuesday, October 20. JCI opened lower by 0.27 percent or 13.85 points to 5,112.48 levels.

Opening the trade, 43 stocks rose, 50 stocks fell, and 63 stocks were stagnant. The trading volume was recorded at 135.88 million shares with a transaction value of Rp97.19 billion.

The movement of JCI today is expected to continue the process of increasing, after yesterday being able to stay in the green zone with a gain of 0.45 percent to the level of 5,126.

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

Currently, he said, JCI continues to maintain its position above the support level of 5.023, while the closest resistance target that is trying to be broken is at the level of 5,187.

Therefore, according to Nafan, the potential for a strengthening in the JCI movement today can be utilized by investors by accumulating the purchase of shares of PT XL Axiata Tbk (EXCL), PT PP Presisi Tbk (PPRE), PT Tower Bersama Infrastructure Tbk (TBIG), PT Sarana Menara Nusantara. Tbk (TOWR), and PT Waskita Karya Tbk (WSKT).

A similar view was conveyed by PT Reliance Sekuritas Indonesia analyst, Lanjar Nafi, who said that the JCI had the potential to increase towards the closest resistance target at the level of 5,150.

"Technically, there is a short-term strengthening to test the resistance at 5,150," said Lanjar.

He said that in the midst of JCI's efforts to maintain its position in positive territory, investors could respond by collecting shares of PT HM Sampoerna Tbk (HMSP), PT Indofood CBP Makmur Tbk (ICBP), PT Indofood Sukses Makmur Tbk (INDF), PT Kalbe Farma Tbk. (KLBF), and PT Semen Indonesia (Persero) Tbk (SMGR).