JCI Getting Closer To 5,000

Indonesia Stock Exchange Building. (Angga Nugraha / VOI)

JAKARTA - The Jakarta Composite Index (JCI) is getting closer to the 5,000 level. At the opening of trade on Thursday, June 4, the JCI opened up 0.48 percent or 23.67 points to 4,964.68.

Opening trades, 60 stocks rose, 9 stocks fell, and 22 stocks remained unchanged. The trading volume was recorded at 20.36 million shares and was transacted for Rp12.98 billion.

Binaartha Sekuritas analyst M. Nafan Aji Gusta Utama predicts that the JCI will move up today. "Technically, there is potential for bullish continuation in the JCI movement so that it has the opportunity to go to the resistance area," he said.

According to Nafan, the resistance area referred to is in the range of the level of 4,993 to 5,056. Meanwhile, the support area based on his analysis is in the range of levels between 4,860 and 4,891.

As for a number of share recommendations from Nafan that can be considered by investors, including PT Alam Sutra Realty (ASRI), PT Bank Tabungan Negara (Persero) Tbk (BBTN), PT Charoen Pokphand Indonesia Tbk (CPIN), PT Indika Energy Tbk (INDY) , and PT Mayora Indah Tbk (MYOR).

Meanwhile, Reliance Sekuritas Indonesia analyst Lanjar Nafi estimates that the JCI today will increase limitedly with support and resistance areas in the range of 4,900 to 5,000.

"JCI movement itself has the closest target resistance which is also a psychological level at the 5000 level," said Lanjar.

Stocks that can be monitored technically include PT AKR Corporindo (AKRA), PT Indofood CBP Sukses Makmur (ICBP), PT Harum Energy (HRUM), PT Indika Energy (INDY), PT Medco Energi Internasional (MEDC), PT London Sumatra Indonesia Tbk (LSIP).