The JCI Today Will Move Towards Limited, Check Out Stock Recommendations

Illustration. (Photo: Doc. Antara)

JAKARTA - The movement of the Composite Stock Price Index (JCI) is expected to strengthen again, limited to today's trading, Tuesday, April 5 after strengthening to the level of 7116.24, or up 0.53 percent yesterday.

CEO of PT Indosurya Bersinar Sekuritas, William Surya Wijaya, explained that the index, which closed its all time high (ATH) trading again, has the potential to be depressed, so that the strengthening trend will be more limited. Throughout yesterday's trading, the JCI moved in the range of 7.060.21 to 7.116.21.

Noted, 274 stocks rose, 240 stocks weakened and 175 stocks moved in place. Foreign investors recorded a net foreign buy of IDR 616.04 billion in all markets.

"The movement of the JCI has again set a record for ATH both intraday and closing, the increase that occurs in the current JCI movement pattern is still supported by the heavy flow of capital inflow that still occurs year to date (ytd)," he said in his research.

Even so, the increase that has occurred appears to have been quite limited, so that William sees that there is a risk of a reasonable correction that investors still need to be wary of.

He estimates that the JCI still has the potential to strengthen, limited to trading this Tuesday. William estimates the range of JCI movement tomorrow at 6.988-7.123.

Based on its technical analysis, Indosurya Bersinar Sekuritas recommends buying stocks such as PT XL Axiata Tbk (EXCL), PT Astra International Tbk (ASII), PT Pakuwon Jati Tbk (PWON), PT Semen Indonesia Tbk (SMGR), and PT Indofood CBP Sukses. Makmur Tbk (ICBP).