JCI Ready To Soar To 8,000

JAKARTA - Strengthening the Composite Stock Price Index (JCI) for four consecutive trading days has not been cut off. At the end of trading Wednesday, August 13, the JCI closed up 1.30 percent to the level of 7,892.91.

The market capitalization or market cap of the JCI has again reached a new record high of IDR 14.203 trillion. This strengthening was supported by the inflow of foreign investor funds with a net buy of IDR 1.48 trillion.

The high flow of foreign investor funds and positive sentiment opened up the JCI's opportunity to touch the previous record. It even set a new all time high record in the near future.

MNC Sekuritas in his research said there was a possibility of a new all time high. JCI support was at 7,760 and resistance at 8,025.

"If the JCI is able to break 7,910 as an all time high level some time, there is a possibility and opportunity for the JCI to reach the position of 8,000," explained MNC Sekuritas.

According to him, in addition to the flow of funds from foreign investors, the movement of the majority of Asian regional exchanges that was strengthened due to the trade war ceasefire between the United States (US) and China has also become an additional positive sentiment.

Take, for example, the Japanese index of Nikkei 225 closed up 1.30 percent on Wednesday 13 August. Strengthening also occurred in the Hong Kong stock market, where the Hang Seng index jumped 2.58 percent.

"The latest is also the release of US inflation data, where the data on Uncle Sam's country inflation tends to be stable and also increases expectations of cutting the benchmark interest rate," explained MNC Sekuritas.

MNC Sekuritas said investors could implement a buy on wealth strategy on stocks that were pullback in trading last Wednesday, and also got trading in the medium term.

For selected shares, MNC Sekuritas observed the shares of PT Astra International Tbk (ASII), PT Bank Syariah Indonesia (BRIS) and PT Solusi Sinergi Digital Tbk (WIFI).