JCI has the potential to weaken tomorrow, these stocks can be observed

ILLUSTRATION. Workers pass near the digital screen of stock movement at the IDX Building, IHSG Jakarta, Friday (9/10/2020). BETWEEN PHOTOS / Akbar Nugroho Gumay / wsj.

Reporter: Ika Puspitasari | Editor: Tendi Mahadi

KONTAN.CO.ID – JAKARTA. Composite Stock Price Index (IHSG) crept up and strengthened 2.46 points or 0.04% to the position of 5,461.06 at the end of trading Friday (13/11). Within a week, the JCI has strengthened 2.35%.

Artha Sekuritas Indonesia analyst Dennies Christoper said the JCI movement on Friday was driven by the sector mining which rose 0.78% and the property sector rose 0.64%.

He continued, JCI closed limited higher after weakening at the start of trading. The movement was caused by concerns about the increasing number of daily Covid-19 cases in several countries and in the country.

Also Read: Waiting for trade balance data, see the JCI projection for trade Monday (16/11)

“On Monday (16/11) the JCI movement will tend to be limited. Investors will pay close attention to the Trade Balance data as of October 2020, “said Dennies in his research, Friday (13/11).

Technically, candlestick forming lower high and lower low and indicator stochastic forming deadcross indicates the potential to continue weakening. Resistance 2 is at the level of 5,490, next resistance 1 in 5,475, meanwhile support 1 is at 5,436, and support 2 of 5,412.

The stocks that can be monitored for trading Monday (16/11) according to Artha Sekuritas include:
1. PT Bumi Serpong Damai Tbk (BSDE ) with a target price of IDR 1,070-IDR 1,100
Entry Level: IDR 1,010 – IDR 1,030
Stop Loss: IDR 1,000

Also Read: The JCI is forecast to weaken next week as the Biden effect fades

2. PT Media Nusantara Citra Tbk (MNCN) target price IDR 900 – IDR 930
Entry Level: IDR 860 – IDR 880
Stop Loss: IDR 850

3. PT PP Tbk (PTPP) with a target price of IDR 1,050 – IDR 1,070
Entry Level: Rp. 910 – Rp. 930
Stop Loss: IDR 990