JCI On Wednesday Projected To Turn Stronger, Pakuwon And Barito Pacific Shares Are Recommended
JAKARTA - In today's trading, Wednesday, September 8, the Jakarta Composite Index (JCI) is likely to experience a technical rebound towards the nearest resistance target at 6.154, after closing down 0.24 percent yesterday to 6.112.
PT Reliance Sekuritas Indonesia Tbk (RELI) analyst, Lanjar Nafi Taulat Ibrahimsyah, said that although technically the JCI rate weakened in yesterday's trading, its position is still above the Moving Average (MA) support level.
"So far the direction of movement is still signaling a positive trend, as long as the JCI remains strong above 6.077 and 6.050, which are the 50-day moving average (MA50) and MA200. JCI is expected to move to try to strengthen, with support-resistance at 6.077 -6.154", said Lanjar in his research.
Today, Lanjar offered a number of stocks that market participants could observe, namely PT Bank Rakyat Indonesia Tbk (BBRI), PT Salim Ivomas Pratama Tbk (SIMP), PT Pakuwon Jati Tbk (PWON), PT HM Sampoerna Tbk (HMSP), PT Barito Pacific Tbk (BRPT), and PT Aneka Tambang Tbk (ANTM).
SEE ALSO:
Meanwhile, according to PT Indosurya Bersinar Sekuritas analyst William Suryawijaya, the JCI movement in today's trading is expected to continue the weakening trend. The support-resistance range is at 5.969-6.202.
"The development of the JCI movement pattern, in general, is still in the long-term consolidation phase, due to the lack of positive sentiment that can boost the JCI's rise", said William.