JCI Friday Covered In Action To Take Profits, Five Shares Can Be Payed Attention

JAKARTA - The Composite Stock Price Index (JCI) is haunted by profit-taking today, Friday, September 20. Phintraco Sekuritas in his research estimates that the JCI will move in the resistance range of 7,920, pivot 7,880, and support 7,860.

Phintraco Sekuritas explained that the JCI was supported by the euphoria of cutting the benchmark interest rate for the Fed and Bank Indonesia (BI) this week. JCI recorded a new all time high by breaking through the 7,900 level on Thursday 19 September.

The large volume and value of transactions indicate that there is still an accumulation of purchases, "wrote Phintraco Sekuritas.

However, Phintraco Sekuritas said that sensitive stocks, especially bank stocks, are indicated to be overbought. Therefore, the risk of profit taking is actually still overshadowing the JCI movement in the next few days.

"Meanwhile, the JCI is estimated to move in the range of 7,860-7,920 today," added Phintraco Sekuritas.

Phintraco Sekuritas added that sentiment related to monetary policy has not been completed. The central banks of Japan and China are scheduled to announce the latest interest rates today.

Both are expected to hold the benchmark interest rate in this month's meeting, explained Phintraco Sekuritas.

Meanwhile, Phintraco Sekuritas recommends five shares for today's trading, namely BRPT, BRMS, ULTJ, EXCL, and TOWR.