JCI Opened On Friday To Weaken 0.22 Percent To 5,087.28 Levels

JAKARTA - The Jakarta Composite Index (JCI) opened lower on the weekend trading. JCI on Friday, July 17 opened lower by 0.22 percent or 11.09 points to the level of 5,087.28.

Opening trades, 14 stocks rose, 36 stocks fell, and 20 stocks were stagnant. The trading volume was recorded at 12.66 million shares and was transacted for IDR 7.55 billion.

Reliance Sekuritas Indonesia analyst, Lanjar Nafi said that investors see the BI interest rate cut as the right step to combat the current economic contraction.

"Technically, JCI is still moving in a positive trend, although slowly. Today's index will move in the support and resistance range in the 5070-5200 area," said Lanjar, in his research.

Some of the stocks that investors can observe in today's trading include PT Gudang Garam Tbk (GGRM), PT Erajaya Swasembada Tbk (ERAA), PT HM Sampoerna Tbk (HMSP), PT Astra International Tbk (ASII).

Then, PT AKR Corporindo Tbk (AKRA), PT Indofood CBP Sukses Makmur (ICBP), PT Indocement Tunggal Perkasa Tbk (INTP), PT Mitra Adiperkasa Tbk (MAPI), PT Sarana Menara Nusantara Tbk (TOWR), and PT Ultrajaya Milk Industry & Trading Company Tbk (ULTJ).

A different opinion was expressed by Binaartha Sekuritas analyst, M. Nafan Aji Gustama. He predicts the JCI will decline in today's trading.

The reason is that technically there is a potential for a reasonable correction on the JCI today. He estimates that the support area will be at the level of 4,974.53 and the resistance level at 5,172.37.

A number of share recommendations that investors can look out for include PT CIMB Niaga TBK (BNGA), PT Astra Agro Lestari Tbk (AALI), PT Estika Tata Tiara Tbk (BEEF), and PT Sri Rejeki Isman Tbk (SRIL).