After RI's 76th Anniversary, JCI Predicted To Strengthen Ahead Of Bank Indonesia's RDG

Illustration. (Photo: Doc. Antara)

JAKARTA - PT Indosurya Bersinar Sekuritas analyst, William Suryawijaya, estimates that the JCI movement in today's trading Wednesday, August 18 after the celebration of the 76th Indonesian Independence Day, is in the positive zone. The JCI support-resistance range is at the level of 5,996-6,178.

William said the JCI movement would be influenced by a number of sentiments related to conditions ahead of the announcement of the BI 7-Day Reverse Repo Rate, the report on vehicle sales and the announcement of the trade balance in July 2021.

"The range of JCI movements today looks to be colored by the release of economic data on the trade balance which is estimated to be still in a stable condition," William said in his research.

As is known, starting today BI will hold a monthly Board of Governors Meeting (RDG) which will last for two days (18-19 August 2021). One of the decisions of the meeting was the implementation of policies related to the BI 7-Day Reverse Repo Rate, which is currently at 3.5 percent.

"Announcement of interest rates and reports on sales of four-wheeled and two-wheeled vehicles will have an influence on the JCI movement pattern for some time to come. Today the JCI has the potential to move in the positive zone," said William.

So, he continued, Indosurya Sekuritas recommends investors to accumulate shares in PT Astra International Tbk (ASII), PT Jasa Marga Tbk (JSMR), PT Bank Central Asia Tbk (BBCA), PT Bank Negara Indonesia Tbk (BBNI), PT Gudang Garam. Tbk (GGRM), and PT HM Sampoerna Tbk (HMSP).