Check Out Stock Recommendations From Analysts Amid Potential JCI Strengthening Thursday

Illustration. (Photo: Doc. Antara)

JAKARTA - The Composite Stock Price Index (IHSG) in today's trading, Thursday, September 23, is expected to gain limited gains, after yesterday moving optimistically in the green zone and closing up 0.78 percent to 6,108.

PT Reliance Sekuritas Indonesia Tbk (RELI) analyst, Lanjar Nafi Taulat Ibrahimsyah, said that the JCI is whipsaw at the 200-Day Moving Average (MA200) support level and has the potential to strengthen again by testing fractal resistance and upper Bollinger bands.

"The Stochastic and RSI indicators still provide bearish momentum which first confirmed the dead-cross in the overbought area. Thus, the opportunity for JCI strengthening is still open, although limited, with support-resistance of 6,082-6,152," said Lanjar in his research.

Thus, he explained, the movement of the JCI which will continue the upward process can be utilized by investors by accumulating the purchase of shares of PT Ace Hardware Indonesia Tbk (ACES), PT Aneka Tambang Tbk (ANTM), PT Bank Negara Indonesia Tbk (BBNI), PT Bank Rakyat Indonesia Tbk (BBRI), PT Bank Mandiri Tbk (BMRI), PT Ciputra Development Tbk, and PT HM Sampoerna Tbk (HMSP).

Meanwhile, according to PT Indosurya Bersinar Sekuritas analyst William Suryawijaya, the JCI movement has the potential to reverse to a limited decline. The support-resistance range of the JCI is at the level of 5,969-6,202.

He said the JCI movement was able to make a technical rebound, after being under pressure for some time before.

"As long as the resistance level cannot be broken, the JCI has the potential to weaken," said William.

So, he continued, Indosurya Sekuritas recommends investors to pay close attention to the shares of PT Bank Central Asia Tbk (BBCA), PT Unilever Indonesia Tbk (UNVR), PT Telkom Indonesia Tbk (TLKM), SMGR, JSMR and BBRI.