JCI Is Likely To Strengthen This Weekend, Indomobil And Barito Pacific Shares Are Recommended

Illustration. (Photo: Unsplash)

JAKARTA - The Jakarta Composite Index (JCI) in trading this weekend, Friday, October 8, is expected to rebound, after closing slightly lower by 0.01 percent to 6.416 yesterday.

According to an analyst of PT Pilarmas Investindo Sekuritas, Maximilianus Nico Demus, the JCI rate will strengthen in line with efforts to reach the resistance target at the level of 6.458.

"Based on technical analysis, we see that the JCI currently has a limited opportunity to move lower, with limited potential to strengthen at the end of trading and trade in the range of 6.361-6.458," said Nico Demus, in his research.

He stated that the consistency of the JCI's movement to stay above the 6.400 level will be tested by the end of this week.

"However, the debt ceiling agreement (policy to increase the United States debt ceiling) can provide new energy in today's trade," he explained.

From within the country, said Nico Demus, capital market investors highlight the achievement of Foreign Direct Investment (FDI) during 2020-2021. As is known, President Joko Widodo raised the target of the Ministry of Investment/BKPM regarding the realization of foreign direct investment in 2021 to IDR 900 trillion from IDR 858.5 trillion.

Furthermore, Nico Demus said that the JCI movement which is predicted to strengthen at the end of today's trading can be responded to by considering the accumulation of shares purchases of PT Indomobil Multi Jasa Tbk (IMJS) and PT Barito Pacific Tbk (BRPT).