These stocks were at most in October, analysts suggest caution

ILLUSTRATION. A teller officer serves customers at the BRI Syariah Kebun Jeruk Cabnag office in Jakarta, Tuesday (13/10). / pho KONTAN / Carolus Agus Waluyo / 13/10/2020.

Reporter: Kenia Intan | Editor: Tendi Mahadi

KONTAN.CO.ID – JAKARTA. Several stocks recorded significant price increases on the Indonesia Stock Exchange (IDX) throughout October 2020. The ten stocks with the highest price increase increased between 61% and 188.34%

Quoting data from Bloomberg, PT Aesler Grup Internasional Tbk (RONY) up to 188.34% to Rp. 470. After that, it was followed by PT Bank Permata Tbk (BNLI) up to 93.97% to IDR 2,250. There is also PT Jaya Agra Wattie Tbk (JAVA) which increased by 82.69% to Rp 95.

In the following order, the share price of PT Bank QNB Indonesia (BKSW) recorded an increase of 81.16% to Rp 125. PT Armada Berjaya Trans Tbk (JAYA) raised 75.34% to Rp 128. PT Nusantara Almazia (NZIA) rose 74.19% to Rp 216 and PT Trimuda Nuansa Citra Tbk (TNCA) raised 70.76% to Rp 292.

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Meanwhile, the last three stocks with a significant price increase were PT Cipta Selera Murni Tbk which increased by 69.93% to Rp. 520, PT Bank BRISyariah Tbk (BREEZE) increased 64.67% to 1,235, and BAJA increased 61.40% to Rp 92.

Despite recording the highest rate throughout October 2020, analysts suggest remaining cautious about these stocks.

Sucor Sekuritas Indonesia analyst Hendriko Gani said that investors can actually keep up with the rising trend in the prices of several shares. However, investors need to be more careful and analyze the liquidity of their stocks. “Because these stocks have relatively minimal liquidity,” Hendriko explained to Kontan.co.id, Thursday (29/10).

Hendriko observed that of the ten shares, only BRIS and BNLI had positive sentiments. BRIS colored sharia bank merger sentiment. Meanwhile, BNLI is motivated by Bangkok Bank’s plan which will make BNLI a book IV bank. As for other stocks, there is actually no sentiment that has a significant effect on its stock price.

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Panin Sekurtias analyst William Hartanto also believes that only BNLI and BBRI have positive sentiments that affect the movement of their shares. While the cause of other increases in share prices is unknown.

Therefore, William tends to advise investors to pay close attention to stocks whose movements are driven by positive sentiment. However, according to William, technically, BRIS shares look more attractive. “There is gap at 1.125 it can become entry level and a target price of IDR 1,500, “William explained to Kontan.co.id, Wednesday (28/10).