JCI Tuesday Expected To Continue Strengthening: PGN, WIKA, And Adaro Shares Recommended

JAKARTA - In today's trading, Tuesday, October 5, the Jakarta Composite Index (JCI) is expected to continue the upward process, supported by positive sentiment related to window dressing behavior. Yesterday, the index closed significantly higher by 1.83 percent to 6,342.

According to PT Artha Sekuritas Indonesia analyst, Dennies Christopher Jordan, in his research, the JCI movement in today's trading is expected to continue the strengthening pattern. The JCI support levels are at 6,270 and 6,198, while resistance is at 6,378 and 6,414.

He assessed that the strengthening of the JCI in yesterday's trading was mainly influenced by investors' optimism about the positive prospects of issuers in the fourth quarter of 2021, which also often takes window dressing actions on financial reports.

Technically, said Dennies, the candlestick formed a higher high and a higher low with a fairly high volume, indicating a potential bullish trend. He emphasized that in the fourth quarter, investors had started speculating on the practice of window dressing.

"The movement of the JCI is still overshadowed by global sentiment, such as the United States which will soon run a tapering. Meanwhile, domestic sentiment is still lacking," said Dennies.

Dennies said that the potential for further strengthening of the JCI rate today could be addressed by investors by considering the accumulation of shares of PT Perusahaan Gas Negara Tbk (PGAS), PT Wijaya Karya Tbk (WIKA), and PT Adaro Energy Tbk (ADRO).