JCI Opens Red, Slightly Decreased By 0.05 Percent To Level 5,142.54

JAKARTA - The Jakarta Composite Index (JCI) opened in the red zone on Friday July 24 trading. JCI opened lower by 0.05 percent or 2.47 points to the level of 5,142.54.

Opening the trade, 24 stocks rose, 20 stocks fell, and 31 stocks were stagnant. The trading volume was recorded at 28.97 million shares and was transacted for Rp13.66 billion.

Binaartha Sekuritas analyst M. Nafan Aji Gusta Utama also projects that the index will move up with support and resistance areas between 5,097.14 to 5,172.37.

"The potential for bullish continuation (continued strengthening) in the JCI movement is still visible so that it has the opportunity to go to the nearest resistance," Nafan said.

As for a number of share recommendations that can be considered by investors, including PT XL Axiata Tbk (EXCL), PT Garuda Maintenance Facility AeroAsia Tbk (GMFI), PT Hanjaya Mandala Sampoerna Tbk (HMSP), and PT PP London Sumatra Indonesia Tbk (LSIP). Then, PT Mitra Adiperkasa Tbk (MAPI), PT Bank Pan Indonesia Tbk (PNBN), and PT Ramayana Lestari Sentosa Tbk (RALS).

A similar estimate was conveyed by PT Reliance Sekuritas Indonesia analyst, Lanjar Nafi, who said that the JCI this weekend will end in positive territory with limited gains.

"JCI movement back to hold in the green zone and the potential to test the next target resistance," said Lanjar.

He estimates that JCI will regain limited strength, with support-resistance at the level of 5,120-5,210.

He also recommended the opportunity for further increases in the JCI rate to be addressed by investors by collecting shares of PT Bank Mandiri (Persero) Tbk (BMRI), PT Barito Pacific Tbk (BRPT), PT Charoen Pokphand Tbk (CPIN), PT Japfa Comfeed Tbk (JPFA), PT PP Tbk (PTPP), and PT Wijaya Karya Tbk (WIKA).