The JCI is predicted to continue strengthening on Monday (19/4), see shares of GJTL, ERAA, and INKP

ILLUSTRATION. The screen displays the movement of the Jakarta Composite Index (JCI) at the Indonesia Stock Exchange, Jakarta. BETWEEN PHOTOS / Hafidz Mubarak A / nz

Reporter: Kenia Intan | Editor: Herlina Kartika Dewi

KONTAN.CO.ID – JAKARTA. The Jakarta Composite Index (JCI) strengthened 6.757 points or 0.11% to a level of 6,086,258 at the close of trading, Friday (16/4).

Data from the Indonesia Stock Exchange (IDX) shows that the majority of sectors on the stock exchange are moving stronger. The technology sector recorded the highest increase of up to 1.05%. After that followed by the non-primary consumer goods sector which increased by 1.04%. There was also the transportation and logistics sector which rose 0.92%.

Artha Sekuritas Indonesia analyst Dennies Christoper Jordan observed, JCI strengthened in a limited way after experiencing fluctuations throughout the day. This movement was driven by the release of economic data from the United States and China.

For trading Monday (19/4), JCI is predicted to continue strengthening with support levels of 6,087 to 6,060. Meanwhile, the resistance levels are at 6,113 to 6,140.

“JCI is predicted to strengthen. Candlesticks are still forming higher high and higher low However, the stochastic indicator is moving narrowing, indicating that the movement will be limited and there is a potential for correction, “he said in a research received by Kontan.co.id, Friday (16/4).

Also Read: JCI rose 0.26% in the past week, see projections for next week

According to him, investors will tend wait and see ahead of the setting of interest rates by the Bank of China and Bank Indonesia.

Amid the JCI which is projected to continue strengthening, analysts are looking at these stocks:

1. PT Gajah Tunggal Tbk (GJTL)

The stochastic indicator moves wider after forming a goldencross. Potential to continue strengthening. Analysts suggest that investors enter GJTL at a price of Rp. 875 per share to Rp. 900 per share. Stop loss at IDR 860 per share. Meanwhile, GJTL’s target price is at Rp 940 per share to Rp 965 per share.

2. PT Erajaya Swasembada Tbk (ERAA)

Breakout resistance with high volume, has the potential to continue strengthening. The target price / Stop Loss / Entry Level is increased.
Investors are advised to enter these shares at a price of Rp 630 per share to Rp 645 per share. Stop loss at IDR 620 per share. The ERAA price target is at Rp 680 per share to Rp 700 per share.

3. PT Indah Kiat Pulp & Paper Tbk (INKP)

Moving around the support level of the consolidation trend. The stochastic indicator is moving to form a gold-cross indicating potential strengthening.

Analysts suggest that investors enter these shares at a price of Rp 9,800 per share to Rp 10,000 per share. Stop loss at IDR 9,700 per share. Meanwhile, INKP’s target price is IDR 10,400 per share to IDR 10,600 per share.