JCI Is Expected To Continue Strengthening At The Beginning Of The Week, See Stock Options

Illustration. (Photo: Doc. Antara)

JAKARTA - The movement of the Composite Stock Price Index (JCI) in today's trading, Monday, September 27, is expected to continue the short-term upward process, after closing up 0.03 percent at the end of last week to 6,144.

According to analyst of PT Reliance Sekuritas Indonesia Tbk (RELI), Lanjar Nafi Taulat Ibrahimsyah, the JCI has tested the resistance of the upper bollinger bands, following the whipsaw movement in the middle of last week at the support level of the lower bollinger bands and the 200-Day Moving Average (MA200).

"The direction of movement still tends to be positive in the medium-term uptrend pattern, with the next resistance target in the range of 6,150-6,200," said Lanjar in his research.

Lanjar said that so far, the stochastic indicator is consolidating positively, which is approaching the overbought area. Thus, technically, the JCI has the potential to continue strengthening, with the support-resistance range at 6,106-6,198 levels.

Now, in the midst of the potential strengthening of the JCI in today's trading, Lanjar offered a number of stocks that market participants could observe, namely PT Aneka Tambang Tbk (ANTM), PT Astra International Tbk (ASII), PT BFI Finance Tbk (BFIN), PT M Cash Integration Tbk (MCAS), PT Semen Indonesia Tbk (SMGR), and PT Summarecon Agung Tbk (SMRA).

A similar estimate is also stated in the research of PT Artha Sekuritas Indonesia, that the JCI movement in today's trading will strengthen again. Currently, the support-resistance ranges are at the levels of 6.123-6,166 and 6.104-6,197.

In addition, Artha Sekuritas also assessed that the JCI movement will still be overshadowed by sentiment related to the latest information from the Fed regarding the tapering-off signal which will start from November 2021 until the middle of next year.