JAKARTA - The Jakarta Composite Index (JCI) opened in the green zone on trading Tuesday, December 1. JCI opened up 0.78 percent or 43.61 percent to 5,656.02.
Opening the trade, 117 stocks rose, 29 stocks fell, and 70 stocks were stagnant. Trading volume at the opening was recorded at 230.49 million shares with a transaction value of IDR 234.24 trillion.
JCI movement in today's trading is estimated to be corrected again, after yesterday turning into the red zone and ending up significantly lower by 2.96 percent to the level of 5,612.
According to PT Binaartha Parama Sekuritas analyst, Muhammad Nafan Aji Gusta Utama, currently the JCI has a support-resistance range at the level of 5,529-5,695.
"This indicates the potential for further correction in the JCI movement, so that the index has the opportunity to go to a support level," Nafan said in his research.
Nafan said the potential for further corrections to the JCI rate today could be addressed by investors by accumulating the purchase of shares of PT Aces Hardware Indonesia Tbk (ACES), PT Aneka Tambang Tbk (ANTM), PT Charoen Pokphand Tbk (CPIN), PT Indofood Sukses Maknur Tbk ( INDF), PT Indocement Tunggal Prakarsa Tbk (INTP), and PT Summarecon Agung Tbk (SMRA).
A similar estimate was conveyed by PT Reliance Sekuritas Indonesia Tbk (RELI) analyst, Lanjar Nafi Taulat Ibrahimsyah, who said that the JCI had the potential to weaken again.
Lanjar said that technically the JCI is in the oversold area, so technically the JCI has the potential to weaken again to test support at the 5,500 level.
"The range of support for JCI today is in the range of 5,500-5,660," said Lanjar.
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