JAKARTA - The movement of the Composite Stock Price Index (CSPI) in today's trading has the opportunity to form a medium-term upward pattern, after yesterday closing up 0.39 percent to 6,113.
PT Reliance Sekuritas Indonesia Tbk (RELI) analyst, Lanjar Nafi Taulat Ibrahimsyah, said that the JCI technically has been able to move higher at 6,100 which is the confirmation level for the next increase.
"The persistence of the JCI above the 6,100 level psychologically has the potential to create a positive impetus to experience a medium-term uptrend," said Lanjar in his research.
He said the Stochastic and RSI indicators gave bullish momentum signals and the MACD is moving to consolidate positively.
"So, we expect the JCI to continue strengthening, with support-resistance at the level of 6,070-6,156," said Lanjar.
Thus, Lanjar explained, in today's trading Reliance Sekuritas recommends investors to collect shares of PT Adhi Karya Tbk (ADHI), PT Aneka Tambang Tbk (ANTM), PT Adaro Energy Tbk (ADRO), PT HM Samperna Tbk (HMSP), PT United Tractors Tbk (UNTR), PT Wijaya Karya Tbk (WIKA), and PT Waskita Karya Tbk (WSKT).
Meanwhile, according to PT Indosurya Bersinar Sekuritas analyst William Suryawijaya, the JCI movement which is still stuck in the consolidation phase has the potential to be depressed again. The support-resistance range of the JCI is at the level of 5,872-6,123.
"The JCI movement pattern shows that it is trying to shift the range of consolidation to a better direction, while fluctuations in commodity prices and the rupiah exchange rate also contribute to sentiment," said William.
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