JAKARTA - The Composite Stock Price Index (JCI) is predicted to be prone to correction in early 2024 trading. JCI is predicted to be in the range of 7,150-7,210.
When viewing the final closure, the JCI corrected 0.43 percent to 7,272 accompanied by the emergence of sales volume.
"If the JCI has not been able to penetrate the resistance area at 7,308, then be aware that the JCI position is currently at the beginning of its decline," quoted MNC Sekuritas research, Tuesday, January 2, 2024.
The JCI support level is at 7,173 to 7,092. Meanwhile, resistance is in the range of 7,308 to 7,346.
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Today's Stock Recommendations
ACES - Buy on Weakness ACES rose 0.7 percent to Rp720 accompanied by the emergence of the volume of purchases. As long as ACES is still able to be above 665 as its stoploss, ACES' position is in part of the wave [ii] of wave 1 from wave (3). Buy on Weakness: IDR 695-IDR 720 Target Price: IDR 750, IDR 780Stoplosss: below IDR 665
EXCL - Buy on Weakness EXCL rose 1.52 percent to Rp2,000 and is still dominated by purchasing volume, but EXCL's strengthening is stuck by MA20. As long as EXCL is still able to move above 1,885 as its stoploss, the EXCL position is currently expected to be at the beginning of wave C from wave (Y). Buy on Weakness: IDR 1,945-IDR 1,980 Target Price: IDR 2,140, IDR 2,220Stopoloss: below IDR 1,885
HMSP - Spec Buy HMSP corrected 1.10 percent to Rp895 in collaboration with the emergence of sales volume. Currently, we estimate that the HMSP position is at the beginning of wave [iii] from wave C, so that the HMSP correction will be relatively limited and has the opportunity to strengthen again.Spec Buy: IDR 880-IDR 890 Target Price: IDR 925, IDR 945Stopoloss: below IDR 860
SMGR - Buy on Weakness SMGR rose 1.99 percent to Rp6,400 accompanied by an increase in purchasing volume, strengthening SMGR was also able to be above MA60. Currently, SMGR's position is expected to be part of the wave (c) from the wave [b], so SMGR still has the opportunity to continue strengthening it. Buy on Weakness: IDR 6,225-IDR 6,375 Target Price: IDR 6,525, IDR 6,650Stopoloss: below IDR 6,100
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