JCI Wednesday is predicted to move in the range of 8,850-9,050, check the stock recommendation

JAKARTA - The composite stock price index (JCI) is predicted to move in the range of resistance 9,050, pivot 8,950, and support 8,850 on today's trading, Wednesday, January 28.

Phintraco Sekuritas in its research explained that the JCI yesterday closed up limited 0.05 percent to 8,980.23, after having moved weaker. Technology sector shares posted the largest strengthening, while industrial sector shares experienced the largest correction.

According to Phintraco Securities, the news that the PKH Task Force opened the potential of Danantara would take over 28 companies that were revoked because of the Sumatra disaster, including the gold mine of UNTR's subsidiary.

"This has led to a significant decline in UNTR and ASII shares, which has also burdened the JCI yesterday," wrote Phintraco Sekuritas.

However, Phintraco Sekuritas explained, the rebound of several stocks that have been under selling pressure for the past few days, has limited the further weakening of the JCI, so that the JCI can close slightly stronger.

Technically, Phintraco Sekuritas said, the Stochastic RSI indicator is in the oversold area and has the potential to form a Golden Cross. However, the negative MACD histogram is widening. The JCI closed below the MA5 level, but still remained above the MA20 level.

"Thus, today's JCI is predicted to still tend to move sideways in the range of 8,850-9,050," said Phintraco Securities.

The stocks recommended by Phintraco Sekuritas today are TAPG, TKIM, SCMA, TPIA and INET.