JCI Opens Up To 5,120.94 Levels, Consider Analyst Stock Recommendations

JAKARTA - The Jakarta Composite Index (JCI) opened in the green zone on Wednesday, October 21 trading. JCI opened higher by 0.41 percent or 21.10 points to the level of 5,120.94.

Opening the trade, 62 stocks rose, 8 stocks fell, and 28 stocks remained unchanged. The trading volume was recorded at 74.98 million shares and was transacted for IDR 66.81 billion.

The movement of the Composite Stock Price Index in today's trading has the opportunity to return to the green path with limited strengthening, after closing down 0.52 percent to the level of 5.099.

"Technically, there is a chance for a minimal strengthening to the resistance level which is still wide open," said PT Binaartha Parama Sekuritas analyst Muhammad Nafan Aji Gusta Utama in his research.

He said the JCI support-resistance range for trading today is at the level of 5,023-5,187. Now, in the midst of the potential for a technical rebound at the JCI rate today, Nafan is offering a number of shares that can be played by market players, namely PT Indosat Tbk (ISAT), PT Jasa Marga Tbk (JSMR), PT Pabrik Kertas Tjiwi Kimia Tbk (TKIM), and PT Sarana Menara Nusantara Tbk (TOWR).

However, a different view was conveyed by an analyst from PT Reliance Sekuritas Indonesia Tbk (RELI), Lanjar Nafi Taulat Ibrahimsyah. He stated that technically the JCI has the potential to experience moving pressure within the support-resistance range at the level of 5,067-5,117.

Thus, explained Lanjar, the potential for further weakening of the JCI today could be exploited by investors by collecting shares of PT Jasa Marga Tbk (JSMR), PT Semen Indonesia Tbk (SMGR), PT Sarana Menara Nusantara Tbk (TOWR), PT United Tractors Tbk. (UNTR), PT HM Samperna Tbk (HMSP), and PT Gudang Garam Tbk (GGRM).