JAKARTA - The Composite Stock Price Index (JCI) opened higher on trading Wednesday, December 16. JCI opened higher by 0.79 percent or 47.70 points to the level of 6,057.83.

Opening the trade, 135 stocks rose, 13 stocks fell, and 54 stocks were stagnant. Trading volume at the opening was recorded at 277.41 million shares with a transaction value of Rp262.81 billion.

JCI movement in today's trading is expected to turn higher, after yesterday ending in the red zone with a slight weakening of 0.04 percent to the level of 6,010.

PT Binaartha Sekuritas analyst, Muhammad Nafan Aji Gusta Utama, said the JCI's support-resistance range is at the level of 5,874-6,157.

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

In today's trade, Nafan recommended that investors carry out accumulated purchases of shares of PT Bank Negara Indonesia Tbk (BBNI), PT Bank Rakyat Indonesia Tbk (BBRI), and PT HM Sampoerna Tbk (HMSP).

A similar estimate was conveyed by PT Reliance Sekuritas Indonesia Tbk (RELI) analyst, Lanjar Nafi Taulat Ibrahimsyah, who said that the JCI's fluctuating movements remained in a strong tendency.

Technically, Lanjar explained, the JCI has the potential to move back in fluctuation which tends to strengthen, with support-resistance at the level of 5,967-6,076, "said Lanjar.

Thus, according to Lanjar, the potential to strengthen the JCI in today's trade can be utilized by investors by collecting shares of PT Bank Rakyat Indonesia Tbk (BBRI), PT Semen Indonesia Tbk (SMGR), and PT Tower Bersama Infrastructure Tbk (TBIG).


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