JCI Opened To Weaken To 5,129. Analyst Recommends WSBP And WTON Shares

Indonesia Stock Exchange Building. (Angga Nugraha / VOI)

JAKARTA - The Jakarta Composite Index (IHSG) opened in the red zone on trading Tuesday, October 27. JCI opened lower by 0.27 percent or 14.11 points to 5,129.94.

Opening trades, 29 stocks rose, 70 stocks fell, and 49 stocks were stagnant. The trading volume was recorded at IDR 113.42 million shares with a transaction value of IDR 87.29 billion.

The movement of JCI is predicted to try to maintain the upward trend in the last trading week, after yesterday being closed in the green zone with a gain of 0.62 percent to 5,144 levels.

"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.

Thus, he explained, the potential for strengthening the JCI today can be addressed by investors by accumulating the purchase of shares of PT Adaro Energy Tbk (ADRO), PT Erajaya Swasembada Tbk (ERAA), PT Pabrik Kertas Tjiwi Kimia Tbk (TKIM), PT Waskita Beton Precast Tbk ( WSBP), and PT Wijaya Karya Beton Tbk (WTON).

A similar estimate was conveyed by PT Reliance Sekuritas analyst, Lanjar Nafi, who stated that the JCI movement has the potential to continue the strengthening pattern, although it is limited between support and resistance levels.

Technically, said Lanjar, JCI began to accelerate movement in a positive trend. So according to Lanjar, JCI has the potential to continue strengthening, but is limited to support-resistance levels.

He further said that the potential for strengthening the JCI in this short trading week could be utilized by investors by collecting shares of PT Bank CIMB Niaga Tbk (BNGA), PT Ramayana Lestari Sentosa Tbk (RALS), PT Semen Baturaja Tbk (SMBR), PT HM Sampoerna Tbk. (HMSP), PT Gudang Garam Tbk (GGRM), PT AKR Corporindo Tbk (AKRA), and PT Indfood CBP Makmur Tbk (ICBP).