JCI Opens In The Red Zone, Play BCA, BNI And BRI Shares

Indonesia Stock Exchange Building. (Angga Nugraha / VOI)

JAKARTA - The Composite Stock Price Index (IHSG) opened in the red zone at the end of trading week. The JCI on Friday, September 18 opened slightly lower by 0.02 percent or 1.06 points to the level of 5,037.34.

Opening the trade, 63 stocks rose, 29 stocks fell, and 55 stocks were stagnant. The trading volume at the opening was recorded at 37.59 million shares and transacted for IDR 44.46 billion

Binaartha Sekuritas analyst, M Nafan Aji Gusta Utama predicts that the JCI movement at the end of this week's trading is expected to continue the downward trend, after yesterday closing down again by 0.4 percent to the level of 5.038.

"There is a potential for further weakening in the JCI movement, so that the index has the opportunity to go to the closest support level," Nafan said in his research.

He continued, currently the JCI movement is trying to maintain the closest support level at 4,975, while the resistance target to be reached is at the 5097 level.

Thus, he explained, the potential for further weakening in the JCI rate this weekend could be exploited by investors by accumulating the purchase of shares of PT Bank Central Asia Tbk (BBCA), PT Bank Negara Indonesia Tbk (BBNI), PT Bank Rakyat Indonesia Tbk (BBRI), and PT Wijaya Karya Tbk (WIKA).

Meanwhile, according to PT Reliance Sekuritas Indonesia Tbk (RELI) analyst, Lanjar Nafi, the JCI position is still in a positive trend, as long as it is able to stay above the psychological level of 5,000.

Technically, said Lanjar, JCI movement is still pointing to the positive path and will test the bearish trend or short-term weakness at the level of 5,200.

So, he continued, the JCI movement which attempted to reverse to the nearest resistance target could be responded by investors by collecting shares of PT Medco Energi Tbk (MEDC), PT Astra International Tbk (ASII), PT Bank Central Asia Tbk (BBCA), and PT Summarceon. Agung Tbk (SMRA).