The JCI is Predicted to Weaken Even Though It Has the Potential to Strengthen, Check Out Today's Stock Recommendations

JCI Illustration, Photo: Doc. Between

JAKARTA - The Composite Stock Price Index (IHSG) is predicted to weaken. Although it still has a chance to strengthen.

Quoting MNC Sekuritas' research, Thursday, May 4, the JCI is currently under the MA20 and MA60 clusters. JCI is predicted to move at support 6.764-6.735 and resistance: 6.961-6.987.

"Be aware of the support at 6.735, if the JCI penetrates this area, the JCI is confirmed to be forming wave (c) of wave [ii] on the blue label which will bring the JCI to the range of 6.673-6.705," the research quoted.

However, if the JCI is able to move above 6.735, then the JCI still has the opportunity to strengthen. This is due to test the nearest strengthening area at 6820-6855 first.

Today's stock recommendations:

AGII - Spec Buy

AGII closed higher to 1.920 but was still accompanied by modest volume. As long as AGII is still able to move above 1,880 as the stop loss, then AGII's current position is at the beginning of wave [iii] of wave C.

Spec Buy: 1895-1910

Target Price: 2010, 2100

Stop loss: below 1.880

BEST - Buy on Weakness

BEST closed corrected 0.7 percent to 150 accompanied by an increase in sales volume. The current position of BEST is estimated to be in part of wave (iv) of wave [iii] of wave 3, so that BEST is still prone to continuing its correction and can be used for BoW.

Buy on Weakness: 140-146

Target Price: 155, 163

Stop loss: below 138

CARS - Spec Buy

CARS closed corrected to 84 and was still dominated by sales volume. As long as CARS is not corrected below 82 as the stop loss, then CARS' current position is in part of wave (iii) of wave [c].

Spec Buy: 83-84

Target Price: 90.95

Stoploss: below 82

HMSP - Buy on Weakness

HMSP closed up 0.5 percent to 1,020 and was accompanied by volume buying. As long as HMSP is still able to move above 990 as a stop loss, then HMSP's current position is at the end of wave (b) of wave [b].

Buys on Weakness: 1.005-1.020

Target Price: 1.045, 1.100

Stop loss: below 990