JAKARTA – Composite Stock Price Index (IHSG) fell in today’s trading. JCI fell from 6,000 levels. At the close of trading today, the JCI closed down 0.55% to 5,979,215.
However, foreigners still made purchases in all-markets reaching Rp. 179.90 billion.
“The sentiment that occurred in the last two days is the projected decline in economic growth. Second, the sentiment outside the Fed (US) is still waiting for whether it will raise interest rates or taper off. This is still what the market is waiting for.” said Technical Analyst NH Korindo Sekuritas Dimas Pratama, Wednesday (14/7/2021).
Dimas also explained that the sentiment also came from the scenario of the extension of the Emergency PPKM. He explained that there are concerns that in the third quarter the economy will decline.
“Even though last quarter we recovered, but there are still concerns in the third quarter. So investors seem to take profit first to cool down,” he said.
Also Read: JCI Drops, Stocks in This Sector Are Gacor
Nevertheless, there is optimism in the JCI scenario heading to 6,800 by the end of the year. He added that in order to do so, the market faced sentiment from the big cap in the banking sector.
“Especially from the banking sector, the big cap, especially corporate actions from BBRI and BBNI, as well as selling pressure from BBCA. Now this is what makes the index tend to take profit taking. Foreign investors will continue to accumulate, in line with economic growth expectations,” explained Dimas.
Furthermore, Dimas sees that there are opportunities for property and construction issuers in the third quarter.
Following is the analysis and recommendation of selected stocks:
1. Bumi Serpong Damai Tbk (BSDE)
This issuer is still consolidating and is still experiencing a decline because in May 202i a breakdown triangle occurred. The indication will still be testing at the levels of 900-880. If it reaches 870, there is potential for a minor rebound and a chance to 950.
2. Acset Indonusa Tbk (ACST)
This issuer may still have profit-taking. Could dip to 230, but there is optimism for a target to 300.
3. PT PP (Persero) Tbk (PTPP) (Recommendation)
There is a recommendation to buy on weakness at 760. Optimism targets up to 1800s in the next 12 months.
4. Wijaya Karya (Persero) Tbk (WIKA) (Recommendation)
This issuer’s position will still be depressed and can buy on weakness at the 850-890 level. While the target price to 1980 for the next few months.
5. Ciputra Development Tbk (CTRA) (Recommendation)
Technically, CTRA will still be sideways first between 850-1000. Can be bought buy on weakness.
6. Telkom Indonesia (Persero) Tbk (TLKM)(Recommendation)
Support: 3000
Resistance: 3260
7. Bank Rakyat Indonesia Agroniaga Tbk (AGRO) (Recommendation)
Support: 1950
Resistance: 2250
8. Surya Citra Media Tbk (SCMA) (Recommendation)
Support: 2000
Resistance: 2400
9. Metrodata Electronics Tbk (MTDL) (Recommendation)
Support: 2050
Resistance: 2360
10. Matahari Putra Prima Tbk (MPPA)
This issuer can be allowed to buy as long as it is above 1050 then hold, the closest target is at 1250.
11. Eagle Mahkota Teknologi Tbk (EMTK)
This issuer still has potential with a target of 3150 where the stoploss level is at 2450. This issuer tends to be strong-bullish because there is still a Bukalapak IPO sentiment.
12. Bank Neo Commerce Tbk (BBYB)
This issuer is possible to fall to 500 and is not recommended to buy if it declines deeper.
13. Bank Capital Tbk (BACA)
This issuer has potential for a rebound to test the 450-460 level. But if below the 400 level it is allowed to place a stop loss.
14. Bumi Resources Minerals Tbk (BRMS)
These issuers will still consolidate the 100-130 range. While stoploss when below 100.
15. Bank Bumi Arta (BNBA)
It is possible that this issuer will still have profit taking to reach below 1100.
16. WSKT
Still buying on weakness, ep at level 780-800, if it goes up again can target price to 850-860.
17. Bundamedik Tbk BMHS
Note, when it breaks below the 950 level, then there is a potential to 1175, then to 1300. It is recommended to hold when it is still below 950.
18. Saratoga Investama Sedaya Tbk (SRTG)
This issuer is projected to have a potential target at the 2020 level
19. Bank Negara Indonesia Tbk (Persero) (BBNI)
Stop loss if below 4550, the nearest target price is d 4850.
20. Adaro Energy Tbk (ADRO)
Still flat between 1200-1260. Take advantage of take profit at 1260.
21. State Gas Company (PGAS)
There is potential for a rebound to test up to 1050. Be careful if it breaks more than the 950 level.
22. Bank Rakyat Indonesia Tbk (Persero) (BBRI)
Range 3700-3790.
23. Panin Financial Tbk (PNLF)
Pay attention to level 180-200
24. Mitrabahtera Segara Sejati Tbk (MBSS)
Still sideways. The take profit area is at the 530 level.
25. Bank Jago Tbk (ARTO)
The closest target is 15150. The stop loss level is at 14,400.
26. Allo Bank Indonesia Tbk (BBHI)
There will still be a decline going forward, watch the 2900 level. If it breaks, sell immediately.
27. International MNC Bank (BABP)
Still moving flat. Pay attention to levels 270-310. Immediately take profit.
28. HM Sampoerna Tbk (HMSP)
Still at the 1100s level, the closest target is at 1330.
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