JCI Is Projected To Strengthen On Friday, What Are The Stock Options?

JAKARTA - The Composite Stock Price Index (JCI) in trading this weekend, Friday, September 17, is expected to move higher, after yesterday's decline of 0.29 percent to 6,109.

According to analyst at PT Reliance Sekuritas Indonesia Tbk (RELI), Lanjar Nafi Taulat Ibrahimsyah, the JCI has consolidated above the 20-Day Moving Average (MA20) and MA50 or is still strong enough to be in a positive trend above the psychological MA200 level.

He mentioned that the Stochastic indicator is moving bullish which is approaching overbought conditions, but sideways movement is still visible on the MACD indicator.

"So, the JCI movement is expected to try to strengthen on weekend trading, with support-resistance at the level of 6,095-6,150," said Lanjar.

In trading this weekend, Lanjar offered a number of stocks that market participants could watch, namely PT Astra Agro Lestari Tbk (AALI), PT Ace Hardware Indonesia Tbk (ACES), PT Bank Rakyat Indonesia Tbk (BBRI), PT Tower Bersama Infrastructure Tbk ( TBIG), and PT Summarecon Agung Tbk (SMRA).

Meanwhile, analyst at PT Indosurya Bersinar Sekuritas, William Suryawijaya, estimates that the JCI movement in today's trading is still in the consolidation phase. The support-resistance range of the JCI is at the level of 5,969-6,202.

"The development of the JCI movement still looks stagnant, with a greater potential for weakening than the desire to move up. Until now the range of consolidation will not be abandoned by the JCI," said William.

He further emphasized that the lack of positive sentiment and the absence of significant capital inflows will still hamper the JCI movement to move higher.