JAKARTA - The Composite Stock Price Index (IHSG) opened in the green zone on trading weekends. JCI opened higher by 0.39 percent or 20.44 points to 5,280.76 on Friday, November 6 trading.
Opening trades, 83 stocks rose, 23 stocks fell, and 54 stocks remained stagnant. The trading volume was recorded at 174.24 million shares with a transaction value of Rp119.74 billion.
JCI movement in today's trading will be overshadowed by profit-taking with limited potential for strengthening, after yesterday was closed, bouncing 3.04 percent to the level of 5,260.
According to the analyst of PT Reliance Sekuritas Indonesia Tbk (RELI), Lanjar Nafi, technically, the JCI is expected to have limited strength potential.
"However, it was overshadowed by profit taking by investors," said Lanjar in his research.
Investors can take advantage of the opportunity for further increases in the JCI rate today by collecting shares of PT Telekomunikasi Indosia Tbk (TLKM), PT Japfa Comfeed Tbk (JPFA), PT Bank Negara Indonesia Tbk (BBNI), PT Adhi Karya Tbk (ADHI), PT HM Sampoerna Tbk (HMSP), and PT Bukit Asam Tbk (PTBA).
A similar estimate was conveyed by PT Binaartha Parama Sekuritas analyst Muhammad Nafan Aji Gusta Utama, who said that the strengthening trend of the JCI will continue in today's trading. Meanwhile, the support-resistance range is at the level of 5,182-5,337.
"Technically, this indicates a potential bullish continuation in the JCI movement, so that the index has the opportunity to go to the nearest resistance level," Nafan said.
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