JCI Was Opened On Tuesday, Still Continuing Its Strengthening Trend

Indonesia Stock Exchange Building. (Angga Nugraha / VOI)

JAKARTA - The Composite Stock Price Index continues its strengthening trend. Based on VOI monitoring, the JCI on Tuesday, June 9, opened up 0.83 percent or 42.12 points to a level of 5,112.69.

Opening trading 197 stocks rose, 18 stocks fell, and 102 stocks were stagnant. The trading volume was recorded at 213.05 million shares and transacted for Rp187.10 billion.

Binaartha Sekuritas analyst M. Nafan Aji Gusta Utama revealed that the JCI today will continue to advance in the green zone.

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

Based on his analysis, the JCI resistance level will be at 5,172 to 5,233. Meanwhile, in the support area, the index is at the level of 4,975 to 4,865.

As for a number of shares that he recommends for investors to observe in today's trade, including construction and mining sector stocks such as PT Adhi Karya Tbk (ADHI), PT PP Presisi Tbk (PPRE), PT Bekasi Fajar Industrial Estate Tbk (BEST) and PT Vale Indonesia Tbk (INCO).

He also recommended shares in the consumer sector such as PT Indofood Sukses Makmur Tbk (INDF), PT Media Nusantara Citra Tbk (MNCN), and PT Timah Tbk (TINS).

Reliance Sekuritas Indonesia analyst Lanjar Nafi said something different. According to him, JCI today is hard enough to stay in the green zone and enter the overbought area.

"We estimate that technically the JCI will tend to be quite heavy trying to stay in the positive zone with support resistance at 4,944-5,080," said Lanjar.

According to him, stocks that can be examined technically include PT AKR Corporindo Tbk (AKRA), PT Hanjaya Mandala Sampoerna Tbk (HMSP), PT Vale Indonesia Tbk (INCO). Then, PT Medco Energi Internasional Tbk (MEDC), PT PP London Sumatra Indonesia Tbk (LSIP), PT Salim Ivomas Pratama Tbk (SIMP), PT Buyung Poetra Sembada Tbk (HOKI), and Indika Energy Tbk (INDY).