JAKARTA - The Jakarta Composite Index (JCI) opened higher on Wednesday, August 5 trading. JCI opened higher by 0.17 percent or 8.41 points to the level of 5,083.41.
Opening trades, 30 stocks rose, 24 stocks fell, and 25 stocks remained unchanged. The trading volume was recorded at 16.10 million shares and was transacted for IDR 6.57 billion.
Binaartha Sekuritas analyst M. Nafan Aji Gusta Utama said, although it was opened higher, JCI still has the potential to weaken today. Based on technical analysis, the index will move within the support and resistance areas at the level of 5,097-5,172.
"This indicates the potential for further reasonable correction in the JCI movement today," Nafan said in his research.
Some of the shares that he recommended for investors to look at today include shares of PT Adaro Energy Tbk (ADRO), PT Bank Negara Indonesia Tbk (BBNI), PT Agung Podomoro Land Tbk (APLN), PT Bank CIMB Niaga Tbk (BNGA), and PT Bank Jatim Tbk (BJTM).
On the other hand, Reliance Sekuritas Indonesia analyst Lanjar Nafi said that the JCI today has the potential to move higher. Based on his analysis, the support and resistance areas of the index for today are at the levels of 5.030 to 5.157.
Technically, the JCI is moving in a consolidated direction in the overbought area, although opportunities for strengthening are still visible on a momentum basis.
"JCI will again test the psychological support area as confirmation of further strengthening, if it is able to stay above that level," said Lanjar.
Several stocks that investors can still observe today, based on their technical analysis, for example the shares of PT Bukit Asam Tbk (PTBA), PT Adaro Energy Tbk (ADRO), PT Astra International Tbk (ASII), PT Jasa Marga Tbk (JSMR), and PT Charoen Pokphand Indonesia Tbk (CPIN).
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