ILLUSTRATION. Employees pass near a screen showing stock movements on the Indonesia Stock Exchange, Jakarta. BETWEEN PHOTOS/Hafidz Mubarak A/aww.
Reporter: Kenia Intan | Editor: Herlina Kartika Dewi
KONTAN.CO.ID – JAKARTA. The Composite Stock Price Index (JCI) closed in the red zone on weekend trading, Friday (26/11). JCI fell 137.79 points or 2.06% to 6,561.55.
Citing the Indonesia Stock Exchange (IDX), 10 of the 11 sectors on the stock exchange moved lower. The deepest decline was felt by the industrial sector up to 3.61%. After that, the raw materials and energy sectors declined by 2.81% and 2.60%, respectively.
Artha Sekuritas Indonesia analyst Dennies Christopher Jordan observed that the JCI weakened considerably, exacerbated by concerns over uncontrolled inflation in the United States. This has the potential to encourage the Fed to conduct a tighter tapering off, resulting in a sell-off in emerging markets, including Indonesia.
For Monday’s trading (29/11), JCI is predicted to continue weakening with support levels at 6,506 to 6,451. Meanwhile, the resistance is at 6,653 to 6,745.
Also Read: JCI predicted to continue weakening on Monday (29/11)
“Technically the candlestick forms a long black body with quite high volume. The stochastic indicator moves wide after forming a deadcross indicating a strong bearish potential,” he explained in research received by Kontan.co.id, Friday (26/11).
On the other hand, the movement will still be overshadowed by concerns about the Fed’s tapering plan that is tighter. At the beginning of the week, the JCI movement also lacked sentiment from domestic economic data.
In the midst of the JCI movement which is predicted to continue to weaken, analysts take a close look at these stocks:
1. PT Wijaya Karya Tbk (LANGUAGE)
WIKA weakened back to the support level. WIKA is testing support. Analysts suggest entering at a price of Rp 1,250-Rp 1,280 per share. Stop loss at IDR 1,235 per share. the target price is in the range of Rp 1,340-Rp 1,370 per share.
2. PT Alam Sutera Realty Tbk (ASRI)
ASRI Experiencing a weakening with quite high volume, breakdown support. Analysts suggest Sell/Cut Loss. Investors are recommended to enter this stock at a price of Rp 185-Rp 190 per share. Stop loss at IDR 182 per share. ASRI’s target price is Rp 195-Rp 200 per share.
Also Read: The new variant of Covid-19 worries, JCI plunged 2.06% on Friday (26/11)
3. PT Barito Pacific Tbk (BRPT)
BRPT Experiencing a weakening with quite high volume, breakdown support. Investors are recommended Sell/Cut Loss. Analysts suggest entering at a price of Rp 1,045 – Rp 1,065 per share. Stop loss at IDR 1,025 per share. The target price for BRPT is Rp 1,100-Rp 1,120 per share.
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