JCI Strengthens Again, This Time Soared 1.35 Percent To Level 5,428.09

Indonesia Stock Exchange Building. (Angga Nugraha / VOI)

JAKARTA - The Jakarta Composite Index (JCI) opened higher in trading today, Tuesday, November 10. JCI opened higher by 1.35 percent or 72.08 points to the level of 5,428.09.

Opening trades, 86 stocks rose, 23 stocks fell, and 15 stocks remained unchanged. Trading volume at the time of opening was recorded at 146.05 million shares with a transaction value of IDR 328.90 billion.

JCI movement in today's trading still has the opportunity to continue the bullish trend, after yesterday being able to stay in the green zone with a gain of 0.38 percent to the level of 5,356.

PT Binaartha Parama Sekuritas analyst Muhammad Nafan Aji Gusta Utama said technically the JCI currently has a support-resistance range at the level of 5,293-5,380.

"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 in his research.

However, an analyst at PT Reliance Sekuritas Indonesia Tbk (RELI), Lanjar Nafi Taulat Ibrahimsyah, estimates that the JCI movement in today's trading will experience a correction towards the closest support level at 5,279.

Technically, explained Lanjar, JCI began to move in a saturated manner approaching the overbought area. So according to him, JCI has the potential to be corrected in the next movement, with support-resistance at the level of 5,279-5,382.

Thus, said Lanjar, the potential for a reversal to weaken in the JCI today can be exploited by investors by collecting shares of PT AKR Corporindo Tbk (AKRA), PT Mitra Keluarga Kary Advisor Tbk (MIKA), PT HM Sampoerna Tbk (HMSP), PT Ultra Jaya Milk Industry Tbk (ULTJ), PT Gudang Garam Tbk (GGRM), PT Medco Energy Tbk (MEDC), PT Bukit Asam Tbk (PTBA), and PT Waskita Karya Tbk (WSKT).