JCI At The Beginning Of The Week Getting Stronger, Strengthening 12.97 Points

Illustration. (Photo: Unsplash)

JAKARTA - The Jakarta Composite Index (JCI) opened higher on Monday, January 13 trading this morning. JCI opened up 12.97 points or 0.2 percent to 6,287.91.

Starting trading, there were 26 stocks rose, three stocks fell, and 16 stocks were stagnant. Trade transactions reached IDR 24.81 billion from 10.17 million shares traded.

The LQ45 index rose 4.58 points or 0.4 percent to 1,022.59, the Jakarta Islamic Index (JII) index rose 3.79 points or 0.5 percent to 694.53, and the IDX30 index rose 2.59 points or 0, 5 percent to 558.49.

Meanwhile, stocks that are moving in the ranks of top gainers, among others, shares of PT Indo Tambangraya Megah Tbk (ITMG) rose IDR 550 or 4.34 percent to IDR 13,225, shares of PT Alfa Energi Investama Tbk (FIRE) increased by IDR 18 or 5.39 percent to IDR 352, and shares of PT Bumi Resources Tbk (BUMI) increased by IDR 3 or 4.23 percent.

Meanwhile, stocks moving in the ranks of the top losers, namely shares of PT Ristia Bintang Mahkotasejati Tbk (RBMS) fell Rp. 6 or 7.69 percent to Rp. 72, shares of PT Totalindo Eka Persada Tbk (TOPS) fell by Rp. 18 or 6.82 percent to Rp. IDR 246, and shares of PT Indofarma Tbk (INAF) fell IDR55 or 6.55 percent to IDR785.

Director of Anugerah Mega Investama, Hans Kwee said that the JCI this week has the opportunity to consolidate higher with support at 6,270 to 6,218 levels, while the resistance area ranges from 6,295 to 6,337 levels.

"Market players should do SOS or sell when the market strengthens," he said.

According to him, several sentiments will affect the rate of JCI in trading this week. The market is waiting for the positive sentiment that comes from the signing of the trade agreement between the US and China which was held on January 15, 2020.

Chinese Deputy Prime Minister Liu He is reportedly going to Washington to sign the first phase of the agreement. The previous trade agreement was reached in mid-December last year.

Therefore, Hans assessed that the signing of the phase one trade agreement could be a positive sentiment, even though the euphoria only lasted for a short time in the market. Because both of them still have differences and the issue of tariffs is still an obstacle, so that it has the potential to create new conflicts.

Another sentiment that was able to boost the JCI this week was in line with the easing of tensions between the United States and Iran, after the US air strike that killed General Qassem Soeimani.

"But the shock factor is still very likely to occur, such as statements and potential for further conflict. Meanwhile, in today's trade, Monday January 13, the JCI is predicted to move positively into the green zone," said Hans.

PT Indosurya Bersinar Sekuritas Annalis, William Suryawijaya, who said that the JCI movement in today's trading has the potential to strengthen, even though it is within a reasonable consolidation range.

"The opportunity for an increase is still visible in the JCI movement pattern which is supported by the fundamental strength of the Indonesian economy, as seen from the published macroeconomic data," William said.

In addition, he said, continued capital inflow this year will also be a positive sentiment for the JCI movement. "Today IHSG has the potential to strengthen," William explained while mentioning that currently JCI has support-resistance at the level of 6,198-6,402.

William emphasized that the opportunity for a further increase in the JCI rate in today's trading must be addressed by investors by collecting stocks of BBNI, HMSP, MYOR, ROTI, TLKM, WIKA, SMRA and PWON.