JCI Potentially Strengthens, Here Are Stock Recommendations That Can Be Lihated

Share illustration (Photo: dock. Antara)

JAKARTA - The Composite Stock Price Index (JCI) on Friday, January 5 is predicted to have the potential to strengthen and be strongly driven by the Indonesian economy.

Previously, the Composite Stock Price Index (JCI) closed down 0.61 percent or 44.49 points to the level of 7,279.09 until the end of trading on the Indonesia Stock Exchange (IDX), on Wednesday, January 3.

The CEO of Yugen Growing Sekuritas William Surya Wijaya said that the potential movement of the JCI in the long term still shows an uptrend pattern. This is confirmed by the JCI's efforts to set a new All Time High (ATH) record.

"The strong fundamentals of the Indonesian economy have also supported the JCI movement to date," he said in his research, Thursday, January 4.

William said that in the short term, the opportunity for minor correction is still open. This can certainly be a moment for investors to accumulate purchases with long-term investment targets.

William estimates that the JCI will strengthen in trading on Friday, January 5, 2024, in the range of 7,123 - 7,337.

Meanwhile, Binaartha Sekuritas analyst Ivan Rosanova explained that technically the JCI strengthened 1.11 percent at the level of 7,359 at the end of trading on January 4, 2024.

The JCI has penetrated upwards of 7,356 and is expected to continue the formation of the wave towards the Fibonacci projection of 161.8 percent of the wave at the level of 7,422 even higher to 7,503.

The JCI support level is at 7,239, 7,173 and 7,092, while the resistance levels are at 7,422, 7,503 and 7,606.

"Based on the MACD indicator, there is a bullish momentum," he explained.

Willam conveyed the shares that investors could pay attention to, namely ASII, BMRI, AALI, ICBP, SMGR, BBNI, ITMG.

Ivan said investors can pay close attention to the shares of PT AKR Corporindo Tbk. (AKRA) with a price range of Rp1,520 - Rp1,570, PT Bank Central Asia Tbk. (BBCA) with a price range of Rp9,100 - Rp9,200, PT Bank Negara Indonesia (Persero) Tbk. (BBNI) with a price range of Rp5,450 - Rp5,550 and PT Charoen Pokphand Indonesia Tbk. (CPIN) in the price range Rp4,900-Rp4,940.