Wednesday, Jakarta Composite Index Opens Up, Nearly Touching 4,900

Indonesia Stock Exchange Building. (Angga Nugraha / VOI)

JAKARTA - The Jakarta Composite Index (JCI) managed to maintain its gains. At the opening of trading on Wednesday, June 3, the JCI opened higher by 47.53 points or 1 percent to 4,895.04.

Panin Sekuritas analyst William Hartanto estimates that the JCI today will tend to strengthen with a range of movements between 4,780 to 4,900 levels. Moreover, foreign investors began to enter the stock market, as yesterday recorded a net buy of IDR872.35 billion in all markets.

"Continuing the uptrend with foreign investors' net buy, JCI has the potential to continue strengthening with resistance at the 4,900 level," William said in his research.

Some of William's recommended shares to be monitored by investors in today's trade are PT Aneka Tambang (Persero) Tbk (ANTM), PT Japfa Comfeed Indonesia Tbk (JPFA), PT PP Tbk (PTPP), and PT Summarecon Agung Tbk (SMRA).

Likewise, Binaartha Sekuritas analyst M. Nafan Aji Gusta Utama also thinks that the JCI today is moving higher. Technically, the support and resistance areas are at the levels of 4,747 to 4,975.

"There is potential for bullish continuation in the JCI movement so that it has the opportunity to go to the nearest resistance," he said.

As for a number of share recommendations that can be considered by investors, including PT Astra Agro Lestari Tbk (AALI), PT Adhi Karya (Persero) (ADHI), PT Bank Tabungan Negara (Persero) Tbk (BBTN), PT Charoen Pokphand Indonesia Tbk (CPIN) ), PT Medco Energi Internasional Tbk (MEDC), and PT Sarana Menara Nusantara Tbk (TOWR).