JCI Potential Weakening On Weekend, Check Stock Recommendations

Illustration. (Photo: Unsplash)

JAKARTA - The movement of the Composite Stock Price Index (JCI) is predicted to tend to correct in the trading weekend, Friday, March 4, in line with the sentiment of Russia-Ukraine tensions. A number of stocks are worth watching according to analysts.

CEO of PT Indosurya Bersinar Sekuritas William Surya Wijaya, the development of the JCI movement still shows the potential for a reasonable correction that is greater than the intended increase, considering that the increase experienced by the JCI has been quite limited after it recorded a record high sometime before.

"The reasonable correction momentum can still be used by investors to make accumulated purchases with short-term investment targets in the daily trading category," he said in his research.

On the other hand, the recorded capital inflow throughout 2022 seems sufficient to support the movement of the JCI to date. Based on data from the Indonesia Stock Exchange, foreign investors recorded a net buy of IDR 25.77 trillion during the current year.

Today, the JCI has the potential to consolidate within the range of 6,811-6,996. The recommended stock options include PT Gudang Garam Tbk (GGRM), PT Jasa Marga Tbk (JSMR), PT AKR Corporindo Tbk (AKRA), PT Ciputra Development Tbk (CTRA), and PT PP London Sumatra Plantation Tbk (LSIP).