JCI Monday Heading To Level 7,100?

Illustration. (Photo: Doc. Antara)

JAKARTA - The movement of the Composite Stock Price Index (JCI) is estimated to still have the opportunity to target the 7,100 level today, Monday, October 31.

Yugen Growing Sekuritas CEO William Surya Wijaya explained that the JCI movement still looks comfortable in the area of ​​reasonable consolidation, while the potential for pressure is still quite large compared to the ability to rise.

"However, there is no visible sentiment that stands out to be a booster for the JCI movement pattern for some time to come. Investors can still use the momentum of a reasonable correction to make accumulated purchases, with a long-term investment target," he said in the research.

JCI movement is estimated to be in the range of 6,954-7,172. Meanwhile, William's version of stock recommendations is PT Bank Central Asia Tbk (BBCA), PT Telekomunikasi Indonesia Persero Tbk (TLKM), PT Semen Indonesia Tbk (SMGR), PT Bank Rakyat Indonesia Persero Tbk (BBRI).

Then PT Indofood Sukses Makmur Tbk (INDF), PT AKR Corporindo Tbk (AKRA), PT Tower Bersama Infrastructure Tbk (TBIG), and PT Alam Sutera Realty Tbk (ASRI).

During the past week (24-28 October 2022), the Jakarta Composite Index (JCI) also increased 0.55 percent to 7,056.040 from 7,017,771 a week earlier. The Corporate Secretary of the Indonesia Stock Exchange, Yulianto Aji Sadono, explained that IDX trading data for the period 24 to 28 October 2022 was closed in various ways.

The increase occurred in the average daily transaction frequency of the Exchange, which increased by 0.99 percent to 1,219,787 transactions during the week from 1,207,882 transactions in the previous week.

"The stock exchange market capitalization increased by 0.57 percent to IDR 9,368.322 trillion from IDR 9,315.213 trillion in the previous week," he said in a written statement.

Then, the average transaction volume of the Exchange changed 3.79 percent to 22.052 billion shares from 22.921 billion shares. The average daily transaction value of the Exchange experienced a 5.55 percent change to IDR 13.011 trillion from IDR 13.776 trillion.