JCI Opens Up To 6,000, Analyst Recommends Alam Sutera And BSD Shares

Indonesia Stock Exchange Building. (Angga Nugraha / VOI)

JAKARTA - The Jakarta Composite Index (IHSG) opened in the green zone on Thursday 10 December trading. JCI opened higher by 0.65 percent or 38.56 points to the level of 5,982.96.

Opening the trade, 89 stocks rose, 13 stocks fell, and 38 stocks remained stagnant. The trading volume was recorded at 149.53 million shares with a transaction value of IDR 286.23 billion.

JCI movement in today's trading is vulnerable to pressure towards the support level of 5,908, after yesterday's session on Wednesday December 9 was able to hold on to the green zone with a slight gain of 0.23 percent to the level of 5,944.

According to PT Reliance Sekuritas Indonesia Tbk (RELI) analyst, Lanjar Nafi Taulat Ibrahimsyah, although technically the JCI has succeeded in continuing the process of increasing, there is potential for correction.

"Technically, JCI is vulnerable to pressure, with support-resistance at the level of 5,908-5,970," said Lanjar in his research.

Furthermore, Lanjar said, the movement of the JCI which could potentially be depressed towards the support level could be responded to by investors by accumulating the purchase of shares of PT Alam Sutera Realty (ASRI), PT Bumi Serpong Damai Tbk (BSDE), PT Charoen Pokphand Tbk (CPIN), PT Kalbe Farma Tbk. (KLBF), PT Mitra Adiperkasa Tbk (MAPI), and PT Semen Indonesia Tbk (SMGR).

Meanwhile, PT Indosurya Bersinar Sekuritas analyst, William Suryawijaya, emphasized that the JCI movement in today's trading would be naturally consolidated towards the nearest support level. Currently, JCI has a support-resistance range at the level of 5,821-5,998.

"The opportunity for an increase in the JCI movement pattern looks quite limited, considering that JCI has not been able to maintain its position above the nearest resistance level," William said.

He added that so far there were still recorded capital outflows which could give negative sentiment to the JCI movement.

"Today IHSG has the potential to move within a reasonable consolidation range," he said.