JCI Continues To Step On The Gas, Tuesday Morning It Opens Close To 5,700

Indonesia Stock Exchange Building. (Angga Nugraha / VOI)

JAKARTA - The Jakarta Composite Index (JCI) opened in the green zone on trading Tuesday, November 24. JCI opened higher 0.60 npercent or 33.73 points to the level of 5,686.50.

Opening the trade, 194 stocks rose, 19 stocks fell, and 160 stocks were stagnant. The trading volume was recorded at 600.72 million shares with a transaction value of IDR 389.27 billion.

JCI movement in today's trading is expected to strengthen limited, after yesterday was able to stay in the green zone with an increase of 1.46 percent to the level of 5,652.

PT Binaartha Parama Sekuritas analyst, Muhammad Nafan Aji Gusta Utama said, currently the JCI has a support-resistance level at 5,621-5,695.

"Technically, this indicates a potential bullish continuation or further strengthening in the JCI movement, so that the index has the opportunity to go to the nearest resistance level," Nafan said in his research.

A similar estimate was conveyed by PT Reliance Sekuritas Indonesia Tbk (RELI) analyst, Lanjar Nafi Taulat Ibrahimsyah, who said the JCI movement would continue its upward trend with a limited amount of strengthening.

Technically, explained Lanjar, the JCI strengthening trend was overshadowed by profit taking. He said, the JCI movement still has the opportunity to strengthen towards the 5,775 level as long as its position is still strong above the 5,600 level.

"So, the JCI has the potential to be restrained and remains in a limited tendency to strengthen with support-resistance at the level of 5,638-5,695," said Lanjar.

Furthermore, Lanjar said that the potential for limited strengthening at the rate of JCI today could be responded to by investors by collecting shares of PT Ace Hardware Tbk (ACES), PT Astra International Tbk (ASII), PT Bank Rakyat Indonesia Tbk (BBRI), PT Charoend Pokphand Tbk (CPIN). ), PT Indah Kiat Pulp & Paper Tbk (INKP), and PT Unilever Indonesia Tbk (UNVR).