It Has Grown To 6,700, The JCI Will Still Strengthen Today

Illustration. (Doc. Antara)

JAKARTA - The Composite Stock Price Index (JCI) closed trading on Wednesday, February 2, in the green position. JCI rose 1.15 percent or 76.501 points to 6,707.65 points.

In this position, the JCI began to reverse direction after briefly falling to the level of 6,568.17 on trading Tuesday, January 25. Since then, the JCI has slowly started to rise until closing January 31 trading to a level of 6,631.15.

Throughout Wednesday, JCI immediately stepped on the gas since opening trading. The JCI even touched its highest daily level at 6,716.59.

The strengthening of the JCI was driven by the buying action of foreign investors with a record net buy of IDR 327.04 billion. The stocks driving the JCI include PT Bank Central Asia Tbk (BBCA), PT Elang Mahkota Teknologi Tbk (EMTK), and PT Bank Jago Tbk (ARTO).

Then, how about JCI for trading today (Thursday, February 3)?

PT Indosurya Bersinar Sekuritas CEO William Surya Wijaya estimates the JCI will move in the range of 6,502 - 6,711. According to William, the JCI movement seems to be experiencing a short-term increase, while the potential for strengthening is still visible in the JCI movement pattern and has the potential to shift its normal range of consolidation to a better direction.

"If the JCI is able to be maintained above the nearest resistance level, the opportunity for the JCI to reach its all-time high again is wide open," William said in his research, Wednesday, February 2.

William added, the increase in the JCI will be supported by capital inflows which are still recorded year to date, indicating that foreign investors are still interested in the Indonesian capital market.

Seeing the JCI potential, William also recommended several stocks. Among them, PT Bank Central Asia Tbk (BBCA), PT Unilever Tbk (UNVR), PT Semen Indonesia (Persero) Tbk (SMGR), PT Indofood Sukses Makmur Tbk (INDF), PT Bank Negara Indonesia (Persero) Tbk (BBNI) , PT Astra International Tbk (ASII), PT Wijaya Karya (Persero) Tbk (WIKA), and PT Alam Sutera Realty Tbk (ASRI).

Meanwhile, Head of Investment of PT Reswara Gian Investa Kiswoyo Adi Joe also projects a strengthening of the JCI with a resistance level of 6,800. Kiswoyo's preferred shares include PT Bank Rakyat Indonesia (Persero) Tbk (BBRI), PT Bank Mandiri (Persero) Tbk (BMRI), BBCA, ASII, and PT Telekomunikasi Indonesia (Persero) Tbk (TLKM).