Home » Business » JCI Monday (19/7) is prone to correction, these stocks can be observed

JCI Monday (19/7) is prone to correction, these stocks can be observed

ILLUSTRATION. Employees pass near the monitor screen for the movement of the Jakarta Composite Index (JCI) at the Indonesia Stock Exchange, Jakarta, Tuesday (29/6/2021). BETWEEN PHOTOS/Galih Pradipta/HP.

Reporter: Kenia Intan | Editor: Tendi Mahadi

KONTAN.CO.ID – JAKARTA. The Composite Stock Price Index (JCI) was in the green zone at the close of trading last weekend, Friday (16/7). JCI rose 25.76 points or 0.43% to 6,072.51.

The Indonesia Stock Exchange (BEI) noted that the majority of sectors on the stock exchange did increase yesterday Friday. The energy sector experienced the highest gain of up to 1.55%. After that, there was the industrial sector, which grew by 1% and the property sector and property sector real estate which rose 0.79%.

PT Indosurya Bersinar Sekuritas CEO William Surya Wijaya observed that the JCI was trying to move out of its normal consolidation range. “The lack of sentiment and the slowing down of the economy are still a challenge for the Indonesian capital market,” he said in research received by Kontan.co.id, Sunday (18/7).

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The JCI movement which tends to be depressed can be utilized not only by long-term and medium-term investors, but also by short-term investors. Fluctuating stock movements can be used to trading or short-term investment strategies.

William predicts JCI Monday (19/7) will move in the range of 5,913 to 6,123 levels. The stocks that he is observing are: AKRA, TLKM, ASII, BBNI, KLBF, ITMG, JSMT, and CTRA.

Meanwhile, Artha Sekuritas analyst Dennies Christopher estimates that the JCI will move at a level of support at 6.055 to 6.039 and levels resistance at 6,083 to 6,095.

“Technically, the strengthening on the previous day was supported by low volume so that it was vulnerable to correction,” he explained in research received by Kontan.co.id, Friday (16/7).

Also Read: Enter BI RDG week, this is the direction of the JCI for a week

On the other hand, the movement is still overshadowed by the high number of Covid-19 cases and the plan to extend the Emergency PPKM which has the potential to slow down economic recovery in the third quarter of 2021.

As for some stocks that analysts are watching on Monday (19/7):

1. PT Aneka Gas Industri Tbk (AGII)

Breakout resistance at high volume. target price/stop loss improved. Analysts suggest entering this stock at Rp 1,630-Rp 1,660 per share. Stop loss at Rp 1,600 per share. The target price is in the range of Rp 1,800-Rp 1,850 per share.

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