JCI During The Weekend, Analyst Recommends Agung Podomoro Land And XL Axiata Shares

Indonesia Stock Exchange Building. (Angga Nugraha / VOI)

JAKARTA - The Jakarta Composite Index (IHSG) opened in the red zone on trading weekends. JCI opened slightly lower by 0.04 percent or 1.81 points to the level of 5,037.34.

Opening trades, 36 stocks rose, 32 stocks fell, and 28 stocks remained unchanged. The trading volume was recorded at 98.37 million shares with a transaction value of IDR 58.21 billion.

At the end of trading this week, the JCI is expected to continue the process of increasing, after yesterday being able to stay in positive territory with a gain of 0.7 percent to the level of 5.039.

"Technically it indicates the potential for further strengthening in the JCI movement, so that the index has the opportunity to go to the closest resistance level," said PT Binaartha Parama Sekuritas analyst Muhammad Nafan Aji Gusta Utama in his research.

Currently, JCI is trying to stay above the support level 4,975, while the closest resistance target that is trying to reach is at the level of 5,097.

Thus, Nafan explained, the potential for further strengthening in today's JCI movement could be exploited by investors by accumulating the purchase of shares of PT Agung Podomoro Land Tbk (APLN), PT XL Axiata Tbk (EXCL), PT Indofood CBP Makmur Tbk (ICBP) and PT Mitra Family Kary Advisor Tbk (MIKA).

A similar view was conveyed by PT Reliance Sekuritas Indonesia Tbk (RELI) analyst, Lanjar Nafi Taulat Ibrahimsyah, saying that the JCI movement would continue its strengthening trend.

Technically, said Lanjar, JCI has the potential to strengthen with the support-resistance range at the level of 4,990-5,061.

Furthermore, Lanjar emphasized that the potential strengthening of the JCI this weekend could be responded to by investors by collecting shares of PT Astra International Tbk (ASII), PT Bank Danamon Tbk (BDMN), PT Charoen Pokphand Tbk (CPIN), PT Unilever Tbk (UNVR), PT Harum. Energy Tbk (HRUM), PT Perusahaan Gas Negara Tbk (PGAS), PT Pakuwon Jati Tbk (PWON), and PT Nippon Indosari Corpindo Tbk (ROTI).