JCI Is Projected To Weaken Today, Shares Of Adaro, BCA, BRI To BTN Are Recommended

JAKARTA - The movement of the Composite Stock Price Index (JCI) in today's trading Friday, October 22, is expected to be corrected again towards the support level of 6,543, after closing down 0.35 percent yesterday to 6,632.

"JCI is expected to continue its correction towards the nearest support at the level of 6,543," said PT Binaartha Sekuritas analyst Ivan Rosanova in his research.

He said that currently the MACD indicator is showing a death cross signal on the 4-hour chart. The support levels of the JCI are at 6,543, 6,456 and 6,385, while resistance is at 6,692, 6,799 and 6,890.

According to Ivan, the forecast for further weakness in the JCI rate today can be used by investors by accumulating the purchase of shares of PT Adaro Energy Tbk (ADRO), PT Bank Central Asia Tbk (BBCA), PT Bank Rakyat Indonesia Tbk (BBRI), PT Bank Tabungan Negara Tbk. (BBTN), and PT Barito Pacific Tbk (BRPT).

Meanwhile, according to PT Indosurya Bersinar Sekuritas analyst William Suryawijaya, the JCI movement in trading this weekend is still stuck in the range of consolidation. The support-resistance range of the JCI is at the level of 6,472-6,691.

"The JCI movement pattern is going through a reasonable consolidation range, before it can continue its short-term increase," William said.

He stated, so far the JCI has not been able to reach an all-time high, due to the lack of sentiment that can boost its rise.

"However, it seems that capital inflows are starting to enter the Indonesian capital market again," he said.