JCI Opens In The Red Zone, Analyst Recommends Shares Of Two Cigarette Manufacturers

Indonesia Stock Exchange Building. (Angga Nugraha / VOI)

JAKARTA - The Jakarta Composite Index (JCI) opened in the red zone on Thursday, October 22 trading. JCI opened lower by 0.30 percent or 15.32 points to the level of 5,081.12.

Opening the trade, 23 stocks rose, 57 stocks fell, and 41 stocks were stagnant. The trading volume was recorded at IDR 69.50 million shares with a transaction value of IDR 62.06 billion.

JCI movement in today's trading is estimated to be under pressure again, after yesterday ending in the red zone with a slight decrease of 0.07 percent to the level of 5.096.

"Technically, the JCI rate provides a further strengthening signal. So, the JCI is still potentially under pressure with support-resistance 5,067-5,116," said analyst at PT Reliance Sekuritas Indonesia Tbk (RELI), Lanjar Nafi in his research.

Thus, he explained, there is a potential for further weakening in today's JCI rate, investors are advised to collect shares of PT Gudang Garam Tbk (GGRM), PT HM Sampeorna Tbk (HMSP), PT Jasa Marga Tbk (JSMR), PT Semen Indonesia Tbk ( SMGR), and PT Mayora Indah Tbk (MYOR).

Meanwhile, PT Binaartha Parama Sekuritas analyst, Muhammad Nafan Aji Gusta Utama, said the JCI movement would turn to the green zone with limited strengthening. He said that currently the support-resistance range is at the level of 5,023-5,187.

"The movement of the JCI is technically likely to increase at least towards the nearest resistance level," he said.

He further revealed that the potential for a stronger reversal in the JCI could be exploited by investors by accumulating the purchase of shares of PT Gudang Garam Tbk (GGRM), PT HM Sampoerna Tbk (HMSP), PT Indosat Tbk (ISAT), PT Bukit Asam Tbk (PTBA). , and PT Sarana Menara Nusantara Tbk (TOWR).