JCI Opened Higher Tuesday, Analysts Recommend These Stocks

Indonesia Stock Exchange Building. (Angga Nugraha / VOI)

JAKARTA - The Jakarta Composite Index (JCI) opened in the green zone on trading Tuesday, August 25. JCI opened higher by 0.17 percent or 9.91 points to the level of 5,285.95.

Opening trades, 38 stocks rose, 8 stocks fell, and 25 stocks remained unchanged. The trading volume was recorded at 32.87 million shares and was traded for IDR 18.41 billion.

Reliance Sekuritas Indonesia analyst Lanjar Nafi said, based on technical analysis, JCI is predicted to move downward with support at 5,160 levels and resistance at 5,266 levels. According to him, investors are still looking for a catalyst at the beginning of the week.

"Investors this week will focus on the US Federal Reserve's annual Central Bank Economic Policy Symposium which is usually held in Jackson Hole, Wyoming," said Lanjar in his research.

On the agenda, which is taking place Aug. 27-28 via live broadcast, Governor Jerome Powell is scheduled to speak on Thursday about a review of the long-awaited monetary policy framework, which has focused on a new inflation strategy.

"It is predicted that foreign investors will continue to do net selling," said Lanjar.

Meanwhile, the stocks he recommends for trading today are PT Ace Hardware Tbk (ACES), PT Mitra Keluarga Tbk (MIKA), PT Bumi Serpong Damai Tbk (BSDE). Next, PT AKR Corporindo Tbk (AKRA), and PT Menara Sarana Nusantara Tbk (TOWR).

Meanwhile, Binaartha Sekuritas analyst M. Nafan Aji Gusta Utama projects that the JCI today will move up. "Technically it indicates the potential for further strengthening so that it has the opportunity to go to the closest resistance," Nafan said.

Based on technical analysis, he predicts the JCI will move down with support at the level of 5,233 and resistance at the level of 5,380.

A number of shares that he recommends for trading today, including PT Matahari Department Store Tbk (LPPF), PT Indocement Tunggal Prakarsa Tbk (INTP), PT Indika Energy Tbk (INDY), and PT Charoen Pokphand Indonesia Tbk (CPIN).