Check out stock recommendations that can be looked at next week, JCI has a chance to strengthen again

Reporter: Sugeng Adji Soenarso | Editor: Anna Suci Perwitasari

KONTAN.CO.ID – JAKARTA. Composite Stock Price Index (IHSG) performed well this week after rising 1.25%. This happened after the JCI closed at 6,815.6 on Friday (11/2).

Pilarmas Investindo analyst Okie Setya Ardiastama said the JCI movement throughout this week was driven by improved performance from the domestic economy as well as company finances. Thus, giving market participants confidence regarding the progress of domestic economic recovery.

For next week, Pilarmas Investindo projects that the JCI will still be able to strengthen with range trading at 6,730 – 6,925. “However, the handling of the pandemic is considered to put pressure on the confidence of market players,” he told Kontan.co.id, Friday (11/2).

Meanwhile, BCA Sekuritas analyst Achmad Yaki explained that the strengthening of the JCI this week was also driven by domestic conditions. Among other things, from the stability of the rupiah exchange rate, the released economic data, the government’s handling of omicron, as well as the release of issuers’ financial reports.

Also Read: Even though it was corrected on the weekend, the JCI was recorded to strengthen 1.25% to 6,815 in a week

For next week, Achmad sees the JCI movement will be more volatile and vulnerable profit taking. Because, in addition to technically already in the area resistancethere are several economic data that must be observed both domestically and abroad such as, trade balance, export importand current accountserta FOMC The Fed.

“Range next week at 6,620 – 6,930,” he said.

Meanwhile, from external factors, MNC Sekuritas analyst Herditya Wicaksana saw that the JCI movement this week was also supported by many external factors, such as strengthening global and Asian markets. So, for next week, he estimates that the JCI movement has the opportunity to strengthen with the level of support 6,768 dan resistance 6,840 in line with the release of Indonesia’s trade balance data.

Technically, Henan Putihrai analyst Mayang Anggita sees the JCI is still consistently moving in an uptrend, with support closest at MA10 at 6755 to gap at 6,731.

“JCI is expected to be able to stay above this area and continue its journey north towards the resistance Previous High 6,875 to Upper Channel around 6,900,” he added.

Some stocks that can be observed for next week, Herditya favors DOID, TOWR, TOBAand MEDC.

Meanwhile, Okie assesses that investors can pay close attention to the sector consumer non cyclical, finance and infrastructure. Then, Yaki recommended the BUMN Karya sector, mining/commodity, and related bank digital.