JAKARTA - The movement of the Composite Stock Price Index (JCI) in today's trading, Friday, October 1, has the opportunity to continue the short-term upward trend, after closing up 2.02 percent yesterday to a level of 6,286.
According to PT BinaArtha Sekuritas analyst Ivan Rosanova, the JCI managed to cross the downtrend resistance line and closed slightly below the 6,299 resistance level.
"Today there is an opportunity for the JCI to continue rising and will retest the resistance at the level of 6,394," said Ivan, in his research.
He said that currently the JCI has support levels at 6,239, 6,210 and 6,162, while the JCI resistance is at 6,299, 6,358 and 6,394.
Thus, continued Ivan, BinaArtha Sekuritas recommends investors to consider the accumulation of purchases in shares of PT Astra International Tbk (ASII), PT Bank Negara Indonesia Tbk (BBNI), PT Charoen Pokphand Indonesia Tbk (CPIN), PT Indah Kiat Pulp & Paper Tbk ( INKP).
A similar estimate was conveyed by an analyst at PT Artha Sekuritas Indonesia, Dennies Christopher Jordan, who said that the JCI movement in early October had the potential to continue the strengthening pattern, even though it was overshadowed by sentiment related to inflation and the issue of tapering the United States.
He said the significant increase in the JCI rate in yesterday's trading was supported by the increase in shares in the banking and energy sectors. Foreign investors recorded a net purchase value of Rp3.85 trillion in all markets.
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