JCI Still In The Red Zone, Opened Monday Morning To Weaken 2.44 Percent To 5,364.60 Levels

Illustration. (Photo: Unsplash)

JAKARTA - The Jakarta Composite Index (JCI) opened lower on Monday, March 9 trading. JCI opened lower by 2.44 percent or 133.94 points to the level of 5,364.60.

At the opening of trading this morning, as many as 23 stocks rose, 150 stocks fell, and 54 stocks were stagnant. Trading volume was 109.32 million shares, and was transacted for IDR168.67 billion.

Binaartha Sekuritas analyst M. Nafan Aji Gustama predicts that today's JCI will continue its correction with the first and second support levels in the range of 5,361.25-5,288.37. While the first and second resistance ranges from 5,638.13 - 5,715.94.

"Several technical indicators show negative signals, and there are patterns that indicate a potential for further correction to the JCI rate so that it has the opportunity to go to the nearest support level," Nafan said.

This morning, stocks that were among the top gainers, including PT Esta Multi Usaha Tbk (ESTA) rose Rp84 or 70 percent to Rp204, shares of PT Batulicin Nusantara Maritim Tbk (BESS) rose Rp73 or 69.52 percent to Rp178, and shares of PT Victoria Insurance Tbk (VINS) increased by IDR 30 or 30 percent to IDR 130.

While the stocks that entered the top losers, among others, shares of PT Matahari Department Store Tbk (LPPF) fell IDR 310 or 10.88 percent to IDR 2,540, shares of PT Medco Energi International Tbk (MEDC) fell IDR 65 or 9.77 percent to IDR 600. and shares of PT Adaro Energy Tbk (ADRO) fell IDR85 or 7.33 percent to IDR1,075.