JCI At The Beginning Of The Week Opened Slightly Higher By 0.03 Percent

Indonesia Stock Exchange Building. (Angga Nugraha / VOI)

JAKARTA - The Jakarta Composite Index (JCI) opened in the green zone on Monday, July 27 trading. JCI opened higher by 0.03 percent or 1.35 points to the level of 5,084.34.

Opening trades, 25 stocks rose, 23 stocks fell, and 23 stocks remained unchanged. The trading volume was recorded at 20.42 million shares and was transacted for IDR 8.51 billion.

PT Binaartha Parama Sekuritas analyst, M. Nafan Aji Gustama said, even though it was opened higher, technically, the JCI would be corrected in today's trading. According to him, JCI has the opportunity to go to the nearest support level.

"Currently, JCI is trying to maintain the closest support level at 4,975, while the closest resistance target that is trying to be broken is at 5,172 levels," Nafan said.

Thus, Nafan said, the forecast for further weakening of the JCI today could be utilized by investors by accumulating the purchase of shares of PT Bank Rakyat Indonesia (Persero) Tbk (BBRI), PT Bank CIMB Niaga Tbk (BNGA), PT Bumi Serpong Damaii Tbk (BSDE ), PT HM Sampoerna Tbk (HMSP), PT Matahari Department Store Tbk (LPPF), and PT Bukit Asam (Persero) Tbk (PTBA).

Reliance Sekuritas Indonesia analyst Lanjar Nafi also estimates that the JCI will continue its weakening trend. Based on technical analysis, the index will move between 5,035 and 5,290.

"There is a negative sentiment from the global market movement which is under pressure. This is because the relationship between the US and China is heating up," said Lanjar.

He also recommended a number of preferred stocks for investors to observe. The shares include PT Wijaya Karya Tbk (WIKA), PT Charoen Pokphand Tbk (CPIN), PT HM Sampoerna Tbk (HMSP), PT Adaro Energy Tbk (ADRO), and PT Japha Comfeed Indoneia Tbk (JPFA).