ILLUSTRATION. Workers cross in front of the Jakarta Composite Stock Price Index (IHSG) board at the Jakarta Indonesia Stock Exchange. KONTAN / Carolus Agus Waluyo.
Reporter: Kenia Intan | Editor: Herlina Kartika Dewi
KONTAN.CO.ID – JAKARTA. The Jakarta Composite Index (JCI) closed up 0.85 percent to 5,176.1 on Wednesday (14/10).
Artha Sekuritas Indonesia analyst Dennies Christoper observes, the JCI is still strengthening, driven by optimism for economic recovery, as well as the ongoing process of ratifying the Omnibus Law on Job Creation. This positive sentiment was overshadowed by the increase in the number of Covid-19 cases.
For trading on Thursday (15/10), Dennies predicts the JCI will not continue strengthening. JCI is expected to weaken with support levels at 5,141 to 5,107. The resistance levels are at Rp 5,193 to 5,211.
“Technically at this time stochastic be in the area overbought indicates the potential for correction and profit taking, “he explained in a research received by Kontan.co.id, Wednesday (14/10).
He further explained that investors will continue to pay close attention to the continuation of the Work Creation Omnibus Law Bill. On the other hand, investors will tend to wait and see while waiting for some economic data.
Also Read: JCI rallied for eight consecutive days, be aware of profit taking tomorrow (15/10)
Amid the JCI which is predicted to weaken, the stocks that these analysts are looking for are still likely to strengthen:
PT Bukit Asam Tbk (PTBA)
The stochastic indicator is widening to form a gold-cross indicating potential strengthening. Analysts suggest entering PTBA’s shares at a price of Rp 1,970 to Rp 2,000. Stop loss at IDR 1,950. The PTBA price target is pegged at IDR 2,070 to IDR 2,100
2. PT Bank Negara Indonesia Tbk (BBNI)
Breakout resistance, has the potential to continue strengthening. Price target and stop loss are increased. Investors can enter BBNI’s shares at a price of Rp 4,580 to Rp 4,640. Stop loss at IDR 4,900. Meanwhile, the target price for BBNI is set at Rp. 5,050 to Rp. 1,150.
3. PT Acset Indonesia Tbk (ACST)
A rebound around the support area supported by strengthening volume indicates that the bullish trend will continue. Analysts suggest that investors enter shares at a price of Rp 210 to Rp 220. Stop loss is at Rp 206. The target price is at Rp 230 to Rp 240.
DONATION, Get Free Vouchers!
As an expression of gratitude for your attention, there are free vouchers worth donations that can be used shopping at HAPPY STORE.
– –
