JCI Opened Stronger Monday, These Are Recommendations From Analysts

Indonesia Stock Exchange Building. (Angga Nugraha / VOI)

JAKARTA - The Jakarta Composite Index (JCI) opened in the green zone in trading earlier this week. On Monday, September 7, the JCI opened slightly higher by 0.01 percent or 0.73 points to 5,240.58.

Opening the trade, 52 stocks rose, 25 stocks fell, and 74 stocks were stagnant. The trading volume was recorded at 27.90 million shares and was traded at a value of IDR 30.67 billion.

PT Binaartha Parama Sekuritas analyst, Muhammad Nafan Aji Gusta Utama, said that JCI has the opportunity to rebound or strengthen in today's trading.

"Technically, there is potential for strengthening in the JCI movement, so that the index has the opportunity to go to the closest resistance level," Nafan said in his research.

According to Nafan, currently the JCI is trying to maintain the support level at 5,172, while the closest resistance target is at 5,293.

Thus, he explained, the potential for a stronger reversal in the JCI rate earlier this week could be exploited by investors by accumulating the purchase of shares of PT AKR Corporindo Tbk (AKRA), PT Bank Pembangunan Daerah Jawa Barat and Banten Tbk (BJBR), PT Charoen Pokphand Tbk (CPIN). ), PT Elnusa Tbk (ELSA), PT Gudang Garam Tbk (GGRM), PT HM Sampoerna Tbk (HMSP), and PT Indika Energy Tbk (INDY).

Meanwhile, a different opinion was expressed by PT Indosurya Bersinar Sekuritas analyst William Suryawijaya. He estimates the JCI movement in today's trading is still overshadowed by the potential decline.

"Currently, the support-resistance level owned by JCI is in the range of 5,102-5,378," he said.

William said the release of data on foreign exchange reserves for August 2020 which will be released today is estimated to be in stable condition, but sentiment from global and regional market movements as well as fluctuations in the rupiah exchange rate still overshadows the JCI movement.

"Investors can take advantage of the momentum for reasonable correction by making accumulated purchases, with short-term investment targets in the daily trading category," said William.