JCI is expected to strengthen today, watch the movements of CTRA, SCMA, and ASRI

Reporter: Kenia Intan | Editor: Yudho Winarto |

KONTAN.CO.ID – JAKARTA. The Jakarta Composite Index (JCI) closed in the green zone on Wednesday (12/8) trading. JCI was recorded to have strengthened 43.29 points or 0.834% to the level of 5,233.45.

Quoting data from the Indonesia Stock Exchange (IDX), various industrial sectors strengthened the most significantly, reaching 2.31%. After that, followed by the financial sector which strengthened 2.22%.

Also Read: Asia-Pacific bourses skyrocketed to follow Wall Street’s footsteps, Thursday (13/8) morning

Artha Sekuritas Indonesia analyst Dennies Christoper observed, JCI closed higher even though there was no strong sentiment yet. The strengthening on Wednesday (12/8) tended to be driven by market players’ optimism regarding the sentiment of the latest Covid-19 vaccine which will soon be mass produced. In addition, the weaker gold price also raised the JCI.

The optimism of market players regarding vaccines will still raise the JCI, Thursday (13/8). JCI is expected to strengthen with support levels of 5,196 to 5,158. While the resistance level is at 5,253 to 5,272.

“Technically, the stochastic is narrowing in the area overbought indicates that the range of strengthening is already limited and prone to correction, “said Dennies in his research, Thursday (2/8).

Dennies added that investors will still be watching some economic data that will be released soon.

Also Read: JCI rose amid foreign selling, this is why

Amid the JCI which is expected to strengthen, analysts observe these stocks:

1. PT Ciputra Development Tbk (CTRA)

CTRA started to strengthen after rebounding around the area support. Stochastic widening forming golden cross indicates potential reinforcement. Analysts suggest entering CTRA shares at a price of Rp. 650 to Rp. 670. Stop loss at Rp. 630. The target price for CTRA is set at Rp. 700 to Rp. 720.

2. PT Surya Citra Media Tbk (SCMA)

SCMA rebounded after touching the support area. Accompanied by stochastic forming a golden cross, indicating potential strengthening. Investors are advised to enter at a price of Rp. 950 to Rp. 975. Stop loss at IDR 1,200. The SCMA price target is at IDR 1,350 to IDR 1,400.

4. PT Alam Sutera Realty Tbk (ASRI)

ASRI moves around the area support, Candlestick forming higher high and higher low accompanied by stochastic forming golden cross indicates potential reinforcement. Analysts suggest entering ASRI shares at a price of Rp 118 to 122. Stop loss at Rp. 115. The ASRI price target is at Rp. 130 to Rp. 135.