JCI At The Beginning Of The Week Opened To Get Stronger, Analysts Recommend Telkom And Gudang Garam Stocks

Indonesia Stock Exchange Building. (Angga Nugraha / VOI)

JAKARTA - The Jakarta Composite Index (IHSG) opened in the green zone in early trading week. JCI opened higher by 0.58 percent or 29.53 points to the level of 5,083.19 on Monday, October 12 trading.

Opening the trade, 73 stocks rose, 24 stocks fell, 16 shares were stagnant. The trading volume was recorded at 97.43 million shares with a transaction value of IDR 83.66 billion.

In today's trade, the JCI is expected to continue its upward trend, after the weekend was able to stay in the green zone with a gain of 0.29 percent to the level of 5.053.

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

According to him, currently the 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, explained Nafan, the potential for further strengthening in today's JCI movement could be utilized by investors by accumulating the purchase of shares of PT Adaro Energy Tbk (ADRO), PT Erajaya Swasembada Tbk (ERAA), PT Medco Energy Tbk (MEDC), and PT Sarana Menara Telekomunikasi. Tbk (TOWR).

A similar estimate was conveyed by PT Indosurya Bersinar Sekuritas analyst William Suryawijaya, who said that today's JCI movement has the potential to continue the strengthening process, with a support-resistance range at the level of 4,889-5,123.

He stated, the strength of Indonesia's economic fundamentals is a positive sentiment for the JCI, while sentiment related to fluctuations in the rupiah exchange rate and commodity prices will overshadow the index rate.

"Today IHSG has the potential to move in the green zone," he said.

So, in the midst of the potential for further strengthening of the JCI today, William is offering a number of shares that can be observed by market players, namely PT Teleom Communications Indonesia Tbk (TLKM), PT Gudang Garam Tbk (GGRM), PT Unilever Indonesia Tbk (UNVR), PT Pakuwon Jati Tbk (PWON), PT Sri Rejeki Isman Tbk (SRIL), and PT Wijaya Karya Tbk (WIKA).