JCI Is Still Bright At 5,500, Let's Look At A Number Of Stock Menu Options For Analysts

Indonesia Stock Exchange Building. (Angga Nugraha / VOI)

JAKARTA - The Jakarta Composite Index (IHSG) opened in the green zone in early trading week, Monday, November 16. JCI opened higher by 0.85 percent or 46.57 points to the level of 5,507.63.

Opening the trade, 125 stocks rose, 12 stocks fell, and 51 stocks were stagnant. The trading volume was recorded at 153.10 million shares with a transaction value of IDR 121.03 billion.

The JCI movement in today's trading still has the opportunity to continue the upward pattern, although last weekend it was only able to slightly strengthen by 0.04 percent to the level of 5,461.

PT Binaartha Parama Sekuritas analyst Muhammad Nafan Aji Gusta Utama said the JCI support-resistance range is at the level of 5,381-5529.

"Technically, it indicates a potential strengthening in the JCI movement, so that the index has the opportunity to go to the closest resistance level," Nafan said in his research.

Thus, Nafan explained, the potential for further strengthening of the JCI today can be utilized by investors by accumulating shares of PT Aneka Tambang Tbk (ANTM), PT Bank Mandiri Tbk (BMRI), PT Elnusa Tbk (ELSA), PT Lippo Cikarang Tbk (LPCK). , and PT Telekomunikasi Indonesia Tbk (TLKM).

Meanwhile, PT Reliance Sekuritas Indonesia analyst Lanjar Nafi said the JCI movement in trading earlier this week had the potential to be depressed.

"Technically, JCI is still potentially under pressure with support-resistance at the level of 5,355-5,500," said Lanjar.

Meanwhile, according to Indo Premier Sekuritas, the strengthening index on Wall Street at the end of the year along with the easing of investor concerns about the spike in new COVID-19 cases is predicted to be a positive sentiment for the JCI, when investors will pay close attention to trade balance data which is expected to return a surplus of 2.2. billion US dollars.

"The JCI is predicted to continue strengthening with support at the level of 5.425 and resistance at the level of 5.495," said the Indo Premier Sekuritas Analyst Team.

Last weekend, the index on the Wall Street stock closed higher as investors continued to rotate the stocks that benefited from the positive development of the COVID-19 vaccine discovery effort by pharmaceutical companies Pfizer and BioNTech and the economic recovery next year.