JCI Tuesday Morning Reddened To 5,856.88 Levels

Illustration. (Photo: Unsplash)

JAKARTA - The Composite Stock Price Index (IHSG) was opened reddening on trading Tuesday, February 18 morning. JCI opened lower by 10.64 points or 0.18 percent to 5,856.88.

At the opening of trading, as many as 113 stocks rose, 79 stocks fell, and 121 stocks were stagnant. Trade transactions reached IDR57.3 billion out of 70.1 million shares traded.

Reliance Sekuritas Indonesia analyst, Lanjar Nafi said, JCI today will move higher based on technical analysis.

According to him, investors are still optimistic about risky assets such as stocks, as China plans to reduce taxes and corporate costs amid the sluggish economic activity of the country due to the corona virus outbreak.

"China will let banks channel more loans despite the potential problems, in order to sustain the economy amidst the country's health crisis," Nafan said in his research.

Thus, he predicts the JCI will move in the green zone today with support and resistance areas in the range of the level of 5,850 to 5,930.

He also recommended several stocks that attracted technical attention from investors, including shares of various industrial companies such as PT Pabrik Kertas Tjiwi Kimia Tbk (TKIM), PT Indah Kiat Pulp and Paper Tbk (INKP), PT Japfa Comfeed Indonesia Tbk (JPFA), and PT Semen Indonesia Tbk (SMGR).

Furthermore, consumer and construction shares, PT Indofood Sukses Makmur Tbk (INDF), PT Indofood CBP Sukses Makmur Tbk (ICBP), PT Kalbe Farma Tbk (KLBF), PT Bukit Asam Tbk (PTBA), PT Waskita Karya Tbk (WSKT), PT PP Tbk (PTPP), PT Adhi Karya Tbk (ADHI), and PT AKR Corporindo Tbk (AKRA).

This morning, the stocks that entered the top gainers included PT Agro Yasa Lestari Tbk (AYLS), which rose IDR74 or 20.3 percent to IDR428, shares of PT Gunawan Dianjaya Steel Tbk (GDST) rose IDR5 or 7.25 percent to IDR74 and shares. PT Ginting Jaya Energi Tbk (WOWS) increased by IDR 4 or 3.7 percent to IDR112.

As for the stocks that entered the top losers, among others, the shares of PT Indonesian Tobacco Tbk (ITIC) fell Rp100 or 4.35 percent to Rp2,200, the shares of PT Sentral Mitra Informatika Tbk (LUCK) fell by Rp10 or 2.19 percent to Rp446 and PT Diamond Citra Propertindo Tbk (DADA) shares fell IDR3 or 1.99 percent to IDR148.