JCI Predicted To Strengthen Wednesday, Watch Stock Recommendations From Analysts

JAKARTA - The movement of the Composite Stock Price Index (JCI) in today's trading, Wednesday, September 15, is expected to stay in positive territory, after experiencing a technical rebound yesterday with a 0.67 percent strengthening to the level of 6,129.

According to PT Reliance Sekuritas Indonesia Tbk (RELI) analyst, Lanjar Nafi Taulat Ibrahimsyah, optimism for the JCI's strengthening can be seen from the movement that confirmed the 20-Day Moving Average (MA20) and MA50 breakouts.

"The momentum of the bullish movement on the Stochastic and RSI indicators has pushed the JCI to return to a positive trend," Lanjar said in his research.

For this reason, Lanjar explained, the direction of the JCI's next movement is predicted to test the fractal resistance level at 6,150.

"So technically, the JCI has the potential to strengthen with the support-resistance range at the level of 6,098-6,153," he said.

He further said that the potential for further strengthening in the JCI rate today could be utilized by investors by collecting shares of AALI, ACES, ACST, AGII, BBRI, BSDE, ESSA, HMSP, LSIP, SMCB, TBIG and WEGE.

Meanwhile, according to PT Indosurya Bersinar Sekuritas analyst William Suryawijaya, the JCI movement which is still in the consolidation phase has a limited tendency to strengthen. The support-resistance range of the JCI is at the level of 5,969-6,202.

William said the JCI movement in today's trading will be influenced by sentiment related to the announcement of the trade balance in August 2021.

"The trade balance is expected to remain in a stable condition," he said.