JCI At The Beginning Of The Week Opened To Close To 5,000 Levels

Indonesia Stock Exchange Building. (Angga Nugraha / VOI)

JAKARTA - The Jakarta Composite Index (IHSG) opened in the green zone in early trading week, Monday, July 6. The JCI opened up 0.48 percent or 23.73 points to 4,997.52 levels.

Opening the trade, 141 stocks rose, 25 stocks fell, 126 shares fell. The trading volume was recorded at 65.67 million shares and was transacted for IDR 41.64 billion.

Binaartha Sekuritas analyst, M. Nafan Aji Gustama, said the movement of the Composite Stock Price Index (IHSG) in today's trading is expected to weaken, after last weekend it was only able to register a gain of 0.14 percent to 4,973 levels.

"Technically, this indicates a potential for a reasonable correction to the JCI movement today," Nafan explained.

Currently, according to him, the JCI movement will attempt to maintain the support level at 4,865, while the closest resistance target to be reached is at 5,097.

Thus, Nafan explained, there is a potential for a reasonable correction to the JCI rate earlier this week, investors are recommended to consider the accumulated purchase of shares of PT Bank Negara Indonesia (Persero) Tbk (BBNI), PT Bumi Serpong Damai Tbk (BSDE), PT Pakuwon Jati Tbk ( PWON), PT Waskita Karya Tbk (WSKT), and PT Waskita Beton Precast Tbk (WTON).

A different opinion was expressed by Reliance Sekuritas analyst, Lanjar Nafi. According to him, JCI will continue strengthening at the end of last week. JCI is still on a positive track on a bullish trend in the medium term.

"Today's JCI has the potential to test psychological levels with support and resistance at 4,932-5,078," he said.

As for Lanjar, he also recommended a number of stocks that deserve attention in today's trading. Stocks that can still be examined technically include PT Ace Hardware Tbk (ACES), PT Barito Paific Tbk (BRPT), PT HM Sampoerna Tbk (HMSP), PT Japfa Comfeed Tbk (JPFA), and PT Telekomunikasi Indonesia (Persero) Tbk (TLKM).