JAKARTA - The Composite Stock Price Index (JCI) has the opportunity to strengthen in today's trading, Tuesday, October 24. However, it is still prone to correction.
Citing MNC Sekuritas research, the JCI corrected 1.6 percent to 6,742 in yesterday's trading, October 23. In fact, it is still accompanied by the emergence of sales volume.
"The JCI CORrection has hit all the targets we have given," the research quoted.
Looking at the support area at 6,711, if the JCI is still able to survive above the area, then there is a chance that the JCI will strengthen first. As for strengthening in the range of 6,786-6,821.
"This is the best scenario," quoted MNC Sekuritas research.
On the other hand, if it breaks 6,711, the JCI will lead to 6,666-6,676.
The support predictions today are at 6,711 - 6,622. Meanwhile, resistance is in the range of 6,783 - 6,869.
VOIR éGALEMENT:
Today's Stock Recommendations
BMRI - Buy on Weakness
BMRI corrected 1.3 percent to Rp5,675 accompanied by the emergence of sales volume, its position is still in the downtrend phase. We estimate that the position of BMRI is currently at the end of wave [iv] of wave C, so that the BMRI correction will tend to be limited.
Buy On Weakness: IDR 5,500-IDR 5,625
Target Price: IDR 5,775, IDR 5,975
Stoploss: below IDR 5,400
ERAA - Spec Buy
ERAA corrected 1 percent to Rp406 and is still dominated by the emergence of sales volume, its movement is still in the downtrend phase. Currently, the position of ERAA is estimated to be at the end of the wave (v) from wave [c] from wave Y.
Spec Buy: IDR 392-IDR 402
Target Price: IDR 436, IDR 464
Stoploss: below IDR 378
MEDC - Buy on Weakness
MEDC corrected 6.3 percent to Rp1,500 accompanied by the emergence of sales volume. We estimate that MEDC's position is currently in part of the wave (ii) of the [v] wave, so MEDC corrections will tend to be limited and likely strengthen again.
Buy On Weakness: IDR 1,420-IDR 1,485
Target Price: IDR 1,600, IDR 1,715
Stoploss: below IDR 1,305
TBIG - Buy on Weakness
TBIG rose 4.5 percent to Rp1,970 accompanied by the emergence of purchasing volume, but the strengthening of TBIG was still restrained by MA20. As long as TBIG does not return to correction to below 1,860, the TBIG position is currently at the beginning of wave [iii] from wave C.
Buy On Weakness: IDR 1,900-IDR 1,950
Target Price: IDR 2,010, IDR 2,110
Stoploss: below IDR 1,860
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