JCI Thursday Is Projected To Weaken Slightly, Let's Look At Stock Recommendations From Analysts

Illustration. (Photo: Doc. Antara)

JAKARTA - The movement of the Composite Stock Price Index (JCI) is starting to approach the final phase of the upward rally and has the potential for a minor correction, after yesterday ending in the green zone with a 0.78 percent strengthening to the level of 6,536.

According to PT Binaartha Sekuritas analyst, Ivan Rosanova, currently a shooting star candle has been detected on the JCI daily chart and may be an indication that the index rate is approaching the final phase of the rally wave.

He said that the JCI today, Thursday, October 14th, has support levels at 6,479, 6,404 and 6,343, while resistance is at 6,617, 6,686 and 6,799. Even though the index movement is likely to be corrected, the MACD indicator still indicates an uptrend pattern.

Thus, Ivan continued, in today's trading Binaartha Sekuritas recommends investors to consider the accumulation of shares purchases of PT Aneka Tambang Tbk (ANTM), PT Bank Rakyat Indonesia Tbk (BBRI), PT Bukit Asam Tbk (PTBA), and PT Semen Indonesia Tbk ( SMGR).

Meanwhile, according to PT Samuel Sekuritas Indonesia analyst William Mamudi, the JCI movement in today's trading will continue the rally trend, after being able to experience a breakout of the psychological resistance level at 6,500.

"The potential will continue to rally, as long as the uptrend line remains solid," said William.

For today's trading, he said, Samuel Sekuritas recommended shares of PT Unilever Indonesia Tbk (UNVR), PT HM Sampoerna Tbk (HMSP), PT Bank Tabungan Negara Tbk (BBTN), and PT Bank Neo Commerce Tbk (BBYB).