JCI Early Week Potentially Strengthens, Seven Stocks Are Recommended

Illustration. (Photo: Doc. Antara)

JAKARTA - The Composite Stock Price Index (JCI) is expected to strengthen earlier this week, Monday, January 22. A number of shares can be an option for investors.

Yugen-Growing Sekuritas CEO William Surya Wijaya said the JCI is trying to get out of its consolidation range in today's trading. He estimates the JCI will move in the range of 7,123-7,272 in early trading week.

"On the other hand, the pressure wave seems to be quite limited, but there are still reasonable correction opportunities that investors still need to watch out for," William said in his research.

He continued, the JCI movement is currently still supported by capital inflows which have been recorded year to date (ytd) or since the beginning of the year flowing into the Indonesian capital market. For information, foreigners are still recorded to have net buys of IDR 6.31 trillion since the beginning of this year.

However, he continued, fluctuations in the rupiah exchange rate and commodity prices will still overshadow the JCI movement for some time to come.

Meanwhile, Yugen Grows in Sekuritas sees several stocks as a top pick in today's trading. The stocks are ICBP, BBRI, JSMR, INDF, AALI, SMRA, and AKRA.