The JCI On Monday Prone To Correction, Play This Stock Row

Illustration. (Photo: Doc. Antara)

JAKARTA - The movement of the Composite Stock Price Index (JCI) is predicted to remain in its consolidation range and potentially corrected in today's trading, Monday, April 18, after last weekend's position at 7.235.532, an increase of 0.34 percent from 7.210.835.

The JCI had reached a record closing high at 7.262.77 at the end of trading on Wednesday, April 13. The stock exchange market capitalization increased by 3.97 percent and managed to record a new record which reached IDR 9.400 trillion or to be precise IDR 9.405.319 trillion from IDR 9.046.305 trillion in the previous week.

CEO of Indosurya Bersinar Sekuritas William Surya Wijaya said the JCI movement tomorrow will be colored by the release of trade balance data which is allegedly still in a stable condition.

"Meanwhile, the movement pattern of the JCI still tends to be consolidated with the potential for a reasonable correction that looks bigger than the desire for an increase," William said in his research.

William continued, as long as the JCI is still able to maintain its closest support level, investors can still use the momentum of a reasonable correction to make accumulated purchases with short-term targets. For tomorrow's trading, Indosurya Sekuritas projects the JCI to move in the range of 7.027 – 7.358.

The stocks that can be observed include PT Indo Tambangraya Megah Tbk (ITMG), PT Astra Agro Lestari Tbk (AALI), PT HM Sampoerna Tbk (HMSP), PT Bank Negara Indonesia Tbk (BBNI), PT Alam Sutera Realty Tbk (ASRI), PT AKR Corporindo Tbk (AKRA), PT Bumi Serpong Damai Tbk (BSDE), and PT PP London Sumatra Plantation Tbk (LSIP).