JCI Opens Up To 5,123, Consider Analyst Stock Recommendations

Indonesia Stock Exchange Building. (Angga Nugraha / VOI)

JAKARTA - The Jakarta Composite Index (JCI) opened in the green zone in early trading this week. JCI opened higher by 0.22 percent or 11.12 points to 5,133.31 on Monday, October 26 trading.

Opening trades, 61 stocks rose, 32 stocks fell, and 77 stocks remained unchanged. The trading volume was recorded at 79.35 million shares with a transaction value of IDR 63.20 billion.

JCI movement in today's trading is expected to continue the short-term upward trend, after last weekend it was able to reverse direction to the green zone and closed up 0.4 percent to the level of 5,112.

"Technically, it indicates a potential 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.

He said, the potential for further strengthening in the JCI rate today could be utilized by investors by accumulating the purchase of shares of PT Gudang Garam Tbk (GGRM), PT Bukit Asam Tbk (PTBA), PT Wijaya Karya Tbk (WIKA), and PT Wijaya Karya Beton Tbk ( WTON).

A similar estimate was conveyed by PT Reliance Sekuritas analyst, Lanjar Nafi, who said that the JCI had the potential to continue strengthening earlier this week.

"Technically, IHSG has the potential to continue strengthening at the beginning of the week with support-resistance at 5,085-5,156," said Lanjar.

So, said Lanjar, the JCI movement which will continue the short-term strengthening pattern can be addressed by investors by collecting shares of PT HM Sampoerna Tbk (HMSP), PT Gudang Garam Tbk (GGRM), PT Ramayana Lestari Sentosa Tbk (RALS), PT Jasa Marga ( Persero) Tbk (JSMR), and PT Astra Agro Lestari Tbk (AALI).