JCI Opens In The Red Zone, Analyst Recommends BCA, BRI, And CIMB Niaga Shares

Indonesia Stock Exchange Building. (Angga Nugraha / VOI)

JAKARTA - The Jakarta Composite Index (IHSG) opened in the red zone on trading weekends. JCI opened lower by 0.16 percent or 7.85 points to 4,962.25 on Friday, October 2 trading.

Opening the trade, 124 stocks rose, 55 stocks fell, and 130 stocks were stagnant. The trading volume was recorded at 246.66 million shares with a transaction value of IDR151.05 billion.

JCI movement in trading today is expected to continue the process of increasing, after yesterday was able to turn into the green zone and closed up 2.05 percent to the level of 4,970.

"Technically, it indicates the potential for further strengthening in the JCI movement towards the closest resistance target," said PT Binaartha Parama Sekuritas analyst Muhammad Nafan Aji Gusta Utama in his research.

So far, according to him, the JCI is trying to stay above the support level of 4,865, while the closest resistance target that is trying to reach is at the position of 5,097.

In the midst of the potential for further strengthening in the JCI rate this weekend, Nafan offered a number of shares that market players could observe, namely PT Bank CIMB Niaga Tbk (BNGA), PT HM Samperna Tbk (HMSP), PT Indocement Tunggal Prakarsa Tbk (INTP), PT Kalbe Farma Tbk (KLBF), and PT PP (Persero) Tbk (PTPP).

A similar estimate was conveyed by PT Reliance Sekuritas Indonesia Tbk (RELI) analyst, Lanjar Nafi Taulat Ibrahimsyah, who said the JCI movement had the opportunity to continue the strengthening pattern towards the nearest resistance target.

"Technically, the JCI support-resistance level is in the range of 4,900-5,022," said Lanjar.

Thus, he explained, the opportunity for a further increase in the JCI rate today could be exploited by investors by collecting shares of PT Adaro Energy Tbk (ADRO), PT Aneka Tambang Tbk (ANTM), PT Astra International Tbk (ASII), PT Bank Rakyat Indonesia Tbk. (BBRI), PT Bank Central Asia Tbk (BBCA), PT Bank Pembangunan Jawa Barat & Banten Tbk (BJBR), PT Bank CIMB Niaga Tbk (BNGA), and PT Ramayana Lestari Sentosa Tbk (RALS).