Jakarta Composite Index (JCI) Opens Tuesday, Raised 1 Percent To Level 4,862.11

Indonesia Stock Exchange Building. (Angga Nugraha / VOI)

JAKARTA - The Composite Stock Price Index (IHSG) managed to strengthen again at the opening of trading on Tuesday, June 16. JCI opened sharply higher by 45.7 points or 1 percent to 4,862.11 levels.

Opening the trade, 204 stocks rose, 32 stocks fell and 80 shares remained stagnant. Trade transactions reached IDR 469 billion from 360 million shares traded.

The weakening of the JCI was also predicted by Binaartha Sekuritas analyst M. Nafan Aji Gusta Utama. He assessed that technically there is a potential for further correction to the index's movement today, so that there is a chance to go to the support area.

Based on his analysis, the JCI's first support level is at 4,778, and the second support is at the level up to 4,717. Meanwhile, resistance has a range at the levels between 4,865 and 4,975.

Meanwhile, a number of share recommendations that can be considered by investors include PT Adhi Karya Tbk (ADHI), PT Lippo Karawaci Tbk (LPKR), PT Media Nusantara Citra Tbk (MNCN), and PT Timah Tbk (TINS). In addition, investors can also look at the shares of PT Pabrik Kertas Tjiwi Kimia Tbk (TKIM), PT Wijaya Karya Bangunan Gedung Tbk (WEGE), and PT Wijaya Karya Beton Tbk (WTON).

Reliance Sekuritas Indonesia analyst Lanjar Nafi expressed a slightly different opinion. According to him, technically the JCI has the potential to fluctuate today. However, the index will try to close in the green zone with support and resistance areas at the levels between 4,757 and 4,901.

"The impact of the second wave of the COVID-19 outbreak in a number of countries has put the majority of assets at risk of selling off again," said Lanjar.

Stocks that investors can watch out for in today's trading include PT Ace Hardware Indonesia Tbk (ACES), PT Adaro Energy Tbk (ADRO), PT AKR Corporindo Tbk (AKRA), and PT Barito Pacific Tbk (BRPT). Investors can also look at the shares of PT Hanjaya Mandala Sampoerna Tbk (HMSP), PT Lippo Karawaci Tbk (LPKR), and PT Telekomunikasi Indonesia (Persero) Tbk (TLKM).