JAKARTA - The Jakarta Composite Index (JCI) opened higher on Friday 10 July trading. JCI opened slightly higher by 0.16 percent or 8.00 points to the level of 5,044.80.
Opening the trade, 26 stocks rose, 49 stocks fell, and 58 stocks were stagnant. The trading volume was recorded at 35.54 million shares and was traded at a value of IDR 16.44 billion.
Binaartha Sekuritas analyst M. Nafan Aji Gusta Utama predicts that today's JCI will end in the red zone. Based on technical analysis, the index will move within the support and resistance areas at the level of 4,975.54 to 5,172.37.
"This indicates the potential for further reasonable correction in the JCI movement today," Nafan said in his research.
As for a number of shares that he recommends for investors to observe today, including PT Puradelta Lestari Tbk (DMAS), PT Indah Kiat Pulp and Paper Tbk (INKP), PT Lippo Karawaci Tbk (LPKR), PT Malindo Feedmill Tbk (MAIN), and PT Mitra Adiperkasa Tbk (MAPI).
Meanwhile, a different opinion was expressed by Reliance Sekuritas Indonesia analyst Lanjar Nai. He said, JCI today has the potential to move higher.
Based on his analysis, the support and resistance areas for today are in the range of levels between 5.015 and 5,150. Technically, the JCI is moving in a consolidated manner in the overbought area, although opportunities for strengthening are still visible on a momentum basis.
"JCI will again test the psychological support area as confirmation of further strengthening, if it is able to stay above that level," said Lanjar.
According to him, there are several stocks that investors can still observe today, based on their technical analysis, including PT Ace Hardware Indonesia Tbk (ACES), PT Adaro Energy Tbk (ADRO), PT Ciputra Development Tbk (CTRA), PT Indika Energy Tbk ( INDY), PT Bukit Asam Tbk (PTBA), and PT Wijaya Karya Tbk (WIKA).
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