JCI Opens In The Red Zone, Let's See Stock Recommendations From Analysts

Indonesia Stock Exchange Building. (Angga Nugraha / VOI)

JAKARTA - The Jakarta Composite Index (IHSG) opened sluggishly. JCI on Friday, September 4, opened lower by 0.64 percent or 33.91 points to 5,246.91.

Opening trades, 9 stocks rose, 69 stocks fell, and 19 stocks remained stagnant. The trading volume was recorded at 27.19 million shares and was transacted for Rp10.53 billion.

JCI movement in today's trading is expected to experience further weakness, after yesterday ending in the red zone. PT Binaartha Parama Sekuritas analyst, Muhammad Nafan Aji Gusta Utama, said the JCI movement had the opportunity to head to the closest support level.

"Technically, the JCI movement is trying to maintain the closest support level at 5,172, while the closest resistance target is at 5,380 levels," Nafan said in his research.

Thus, he explained, the potential for further decline in the JCI rate today could be addressed by investors by accumulating the purchase of shares of PT AKR Corporindo Tbk (AKRA), PT Bank Rakyat Indonesia (Persero) Tbk (BBRI), PT Charoen Pokphand Tbk (CPIN), PT Indocement Tunggal Prakarsa Tbk (INTP), PT Jasa Marga (Persero) Tbk (JSMR), and PT Lippo Karawaci Tbk (LPKR).

Meanwhile, according to PT Indosurya Bersinar Sekuritas analyst William Suryawijaya, the JCI movement today will be in the support-resistance range at the level of 5,102-5,378.

He added that the pressure on the JCI was also influenced by continued capital outflows, fluctuations in the rupiah exchange rate and weakening commodity prices.

"The JCI can still be used by investors to make accumulated purchases," said William.

So, Indosurya Sekuritas recommends that investors can take advantage of the pattern of lowering the JCI by collecting shares of PT Bank Central Asia Tbk (BBCA), PT Bank Negara Indonesia Tbk (BBNI), PT Unilever Indonesia Tbk (UNVR), PT Indofood CBP Makmur Tbk (ICBP), and PT Tower Bersama Infrastructure Tbk (TBIG).