After Dropping Slapped By Jokowi's Cabinet Reshuffle Sentiment, IHSG Strengthens Again Today

Indonesia Stock Exchange Building. (Angga Nugraha / VOI)

JAKARTA - The Jakarta Composite Index (JCI) opened in the green zone on Wednesday, December 23 trading. JCI opened higher by 0.75 percent or 45.06 points to the level of 6,068.34.

Opening the trade, 115 stocks rose, 27 stocks fell, and 70 stocks were stagnant. Trading volume at the opening was recorded at 194.28 million shares with a transaction value of Rp191 billion.

JCI movement in today's trading is estimated to experience a technical rebound with limited strengthening, after yesterday's fall was deep enough, 2.31 percent to the level of 6,023.

PT Binaartha Sekuritas analyst, Muhammad Nafan Aji Gusta Utama said the support-resistance range that the JCI has is at the level of 6,009-6,157.

"The opportunity for minimal strengthening to reach the nearest resistance level is still wide open," Nafan said in his research.

He said the potential for a rebound in today's JCI rate could be exploited by investors by accumulating the purchase of shares of PT Astra Agro Lestari Tbk (AALI), PT Aces Hardware Tbk (ACES), PT AKR Corporindo Tbk (AKRA), PT Astra International Tbk (ASII), PT Bank Central Asia Tbk (BBCA), PT HM Sampoerna Tbk (HMSP), and PT Telekomunikasi Indonesia Tbk (TLKM).

Meanwhile, an analyst at PT Reliance Sekuritas Indonesia Tbk (RELI), Lanjar Nafi Taulat Ibrahimsyah, said the JCI movement has the potential to test the psychological support of 6,000, if it experiences another sell-off before the Christmas holidays.

"So, JCI has the potential to weaken again, with support-resistance 5,969-6,097," said Lanjar.

Investors responded to the potential for further weakening in the JCI rate today by collecting shares of PT Bank Negara Indonesia Tbk (BBNI), PT Bank Rakyat Indonesia Tbk (BBRI), PT Bank Mandiri Tbk (BMRI), PT HM Sampoerna Tbk (HMSP), PT Indofood CBP Sukses Makmur Tbk (ICBP), PT Chandra Asri Petrochemical Tbk (TPIA).