JCI On Friday Is Potentially Strong Again, Coal Stocks And Banking Are Recommended

Illustration. (Photo: Doc. Antara)

JAKARTA - The movement of the Composite Stock Price Index (JCI) is projected to strengthen again in today's trading, Friday, November 4, after yesterday rising 0.27 percent to a level of 7,034.57.

Phintraco Sekuritas analyst Valdy Kurniawan estimates that the JCI will fluctuate in the range of 6,980-7,100 today. Technically, the Stochastic RSI is still in a minor bearish reversal phase, although the negative slope of the MACD tends to be sloping along with the rebound on Thursday.

"The JCI was supported by the rebound in stock prices of commodity issuers, especially coal producers. However, the formation of a shooting star pattern in a number of shares of commodity issuers has sparked doubts about the potential for a further rebound that is expected to occur today," he said in his research.

Even so, Valdy sees, HRUM, AKRA, PTBA, and INDY are coal stocks that have the opportunity to experience a further rebound. Other issuers that can be considered are the banking sector, such as BBCA, BMRI, BDMN, and PNBN.

Valdy believes that the overall performance of the banking sector in Indonesia is still positive in 2022.

"This can be seen from the positive performance of a number of large banks in the United States and Europe, as well as large banks in Indonesia in the third quarter of 2022 despite the trend of rising global interest rates," he said.