JAKARTA - The Jakarta Composite Index (JCI) opened in the green zone today, Tuesday 3 November. JCI opened up 0.49 percent or 25 points to 5,140.13 levels.
Opening trades, 88 stocks rose, 12 stocks fell, and 30 stocks remained stagnant. The trading volume was recorded at 126.66 million shares with a transaction value of IDR 84.29 billion.
JCI movement in today's trading is estimated to experience a technical rebound towards the closest target resistance, after yesterday's correction by 0.26 percent to the level of 5,115.
Technically, according to PT Binaartha Parama Sekuritas analyst Muhammad Nafan Aji Gusta Utama, today's JCI will show a positive signal. The JCI support-resistance range is at the level of 5,063-5,182.
"The JCI movement has tested the 20-Day Moving Average (MA20), so the chance for a minimal strengthening to the nearest resistance level is still wide open," Nafan said in his research.
Therefore, Nafan said, the potential for a strong reversal in the JCI today can be utilized by investors by accumulating the purchase of shares of PT Aces Hardware Tbk (ACES), PT Adhi Karya Tbk (ADHI), PT Adaro Energy Tbk (ADRO), PT Charoen Pokphand. Tbk (CPIN), PT Elnusa Tbk (ELSA), PT Indofood Sukses Makmur Tbk (INDF), PT Medco Energy Tbk (MEDC), and PT Tjiwi Kimia Tbk (TKIM) Paper Factory.
A similar projection was conveyed by the analyst of PT Reliance Sekuritas Indonesia Tbk (RELI), Lanjar Nafi. He said the JCI has the potential to strengthen towards the resistance target at the level of 5,188.
"Technically, the JCI is expected to strengthen in today's trading, with a support-resistance range at the level of 5,100-5,188," said Lanjar.
He suggested that the potential for a technical rebound to the JCI rate be utilized by investors by collecting shares of PT Acset Indonusa Tbk (ACST), PT Astra Agro Lestari Tbk (AALI), PT Gudang Garam Tbk (GGRM), PT HM Sampoerna Tbk (HMSP), PT Indofood CBP Sukses Makmur Tbk (ICBP), PT Adaro Energy Tbk (ADRO), PT Japfa Comfeed Tbk (JPFA), and PT Telekomunikasi Indonesia Tbk (TLKM).
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