JCI Friday Projected To Strengthen Slightly, Watch Stock Recommendations From Analysts

Illustration. (Photo: Doc. Antara)

JAKARTA - PT Indosurya Bersinar Sekuritas analyst, William Suryawijaya estimates that the JCI movement on the trading weekend, Friday, August 13, will return to play in the green zone. The support-resistance range is at the levels of 6.001-6,202.

"The development of the JCI movement seems to have not moved out of the range of reasonable consolidation, but the opportunity for a short-term increase is still visible as long as the nearest support level can be maintained amidst ongoing pressure," said the research.

He added that the opportunity for an increase in the JCI rate this weekend was also supported by capital inflows to the domestic stock market.

"Today the JCI still has the potential to move in the green zone," he said.

So, continued William, the movement of the JCI which is trying to maintain its position in the green zone can be addressed by investors by accumulating the purchase of ITMG, AALI, INDF, BBCA, TLKM, ASII, JSMR and SMGR shares.

Meanwhile, according to analyst of PT Reliance Sekuritas Indonesia Tbk (RELI), Lanjar Nafi Taulat Ibrahimsyah, the JCI movement experienced a technical rebound which was right at the support level of the bullish trendline and the Moving Average 20-Day (MA20).

Thus, continued Lanjar, this condition shows a positive indication for the direction of the next movement. The Stochastic and RSI indicators are still moving on bearish momentum which accompanies the consolidation rate on the MACD indicator.

"So, the JCI has the opportunity to try to strengthen again with limited movement. The support-resistance range is at the level of 6,107-6,170," said Lanjar.