JCI Opened Stronger Wednesday, Analysts Recommend Shares Of Family Partners

Indonesia Stock Exchange Building. (Angga Nugraha / VOI)

JAKARTA - The Composite Stock Price Index (IHSG) opened in the green zone on trading Wednesday, November 18. JCI opened higher by 0.15 percent or 8.23 points to the level of 5,538.17.

Opening trades, 82 stocks rose, 25 stocks fell, and 72 stocks remained stagnant. The trading volume was recorded at 137.42 million shares with a transaction value of IDR 154.81 billion.

The JCI movement in today's trading is estimated to be corrected naturally, although yesterday it was able to stay in positive territory with a gain of 0.64 percent to the level of 5,529.

According to PT Binaartha Parama Sekuritas analyst, Muhammad Nafan Aji Gusta Utama, currently the JCI has a support-resistance range at the level of 5,427-5,562.

"On the other hand, technically it indicates the potential for a reasonable correction to the JCI movement," Nafan said in his research.

Meanwhile, according to PT Reliance Sekuritas Indonesia Tbk (RELI) analyst, Lanjar Nafi Taulat Ibrahimsyah, the JCI still has the opportunity to continue the strengthening trend, but its movement is stuck in the support-resistance range at 5,490-5,560 positions.

"Technically, the JCI is getting steadily stronger above resistance, after failing short-term correction signals," said Lanjar.

However, continued Lanjar, the JCI was still moving and tended to have a negative stigma and began to be in an overbought condition.

"So, JCI strengthening in the next trade will be more restrained, with support-resistance at the level of 5,490-5,560," said Lanjar.

He further said that the strengthening trend of the JCI which had begun to be restrained could be utilized by investors by collecting shares of PT Tower Bersama Infrastructure Tbk (TBIG), PT Sarana Menara Nusantara Tbk (TOWR), PT Mitra Keluarga Kary Advisor Tbk (MIKA), PT Gudang Garam Tbk GGRM), PT HM Sampoerna Tbk (HMSP), and PT Unilever Indonesia Tbk (UNVR).