JCI Tuesday Possibly Strengthens, Check Out Stock Recommendations

Illustration. (Photo: Doc. Antara)

JAKARTA - The Composite Stock Price Index (JCI) in today's trading, Tuesday, August 31, is expected to experience a limited increase, after yesterday moving optimistically in the green zone and ending up surging 1.71 percent to 6,144.

According to analyst at PT Indosurya Bersinar Sekuritas, William Suryawijaya, in Jakarta, Tuesday, August 31, the increase that occurred in the JCI movement was still a technical rebound, although the index managed to shift the range of consolidation to a better direction.

However, William continued, the capital inflow that has not flowed significantly is a challenge for the JCI, which currently has a support-resistance range at 5,969-6,202 levels.

"Today, the JCI has the potential to move up in a limited way," William said in his research.

He further said that the JCI movement, which will continue its strengthening trend at the end of August, can be utilized by investors by accumulating the purchase of shares of PT Bank Negara Indonesia Tbk (BBNI), PT Unilever Indonesia Tbk (UNVR), PT Tower Bersama Infrastructure Tbk (TBIG), and PT Alam Sutera Realty Tbk (ASRI).

A similar estimate was conveyed by analyst of PT Reliance Sekuritas Indonesia Tbk (RELI), Lanjar Nafi Taulat Ibrahimsyah, who said that the JCI movement in today's trading will continue the pattern of strengthening.

He said the JCI was optimistic earlier this week and was able to confirm the rebound pattern at the 200-Day Moving Average (MA200) support level.

"The JCI was again observed to be strongly above the MA20 to MA50 levels, so that the direction of movement was again optimistic," said Lanjar.