JCI Wednesday Opened Stronger To 6,095, Watch Stock Analyst Recommendations

Illustration. (Photo: Doc. Antara)

JAKARTA - The Composite Stock Price Index (JCI) on the Indonesia Stock Exchange (IDX) opened higher on Wednesday, June 23. JCI rose 8.05 points or 0.13 percent to 6,095.9.

Quoting Antara, the Group of 45 leading stocks or the LQ45 index rose 2.74 points or 0.32 percent to 871.21. Analysts predict that the JCI today will strengthen limitedly, after yesterday being able to reverse into the green zone and closed soaring 1.53 percent to 6,078.

PT Reliance Sekuritas Indonesia Tbk (RELI) analyst, Lanjar Nafi Taulat Ibrahimsyah said that the JCI movement will again test the bearish trendline resistance as a confirmation level for further strengthening.

"JCI has limited potential to strengthen with support-resistance at the level of 6,052-6,142," said Lanjar in his research.

Thus, explained Lanjar, the JCI movement which will continue the short-term increase process can be utilized by investors by collecting shares of ACST, AKRA, ASII, ASRI, BBNI, BBTN and HMSP, HOKI, JPFA, TINS, and WTON.

Illustration. (Photo: Japfa Comfeed)

Meanwhile, according to PT Indosurya Bersinar Sekuritas analyst William Suryawijaya, the JCI's pace in today's trading will still experience limited pressure. The support-resistance range is at the level of 5,876-6,123.

"The movement of the JCI still shows a pattern of limited pressure. The lack of positive sentiment and the economic slowdown is still a challenge for issuers, so they have not been able to push the JCI up," said William.

However, he continued, the pressure on the JCI rate could be used as a positive momentum for short-term investors.

"Because, with the fluctuating movements that occur in the JCI, it can be used for trading or short-term investments," he said.

Meanwhile, said William, the pressure on the JCI can also be used by medium and long-term investors, because sooner or later the government's efforts to restore the economy will bear fruit.

"With improved conditions, the performance of issuers can be brilliant and encourage the JCI to increase in the future," he said.