Reporter: Ika Puspitasari | Editor: The novice Laoli
KONTAN.CO.ID – JAKARTA. Composite Stock Price Index (IHSG) moved down 0.34% to a level of 6,459.69 in early trading on Monday (11/10).
CEO of PT Indosurya Bersinar Sekuritas, William Surya Wijaya, said the JCI movement seemed to be going through a normal consolidation phase after experiencing a short-term increase last week.
According to William, the potential for strengthening still looks quite large considering the current capital inflow which began to re-enter the Indonesian capital market. On Monday (11/10), foreign investors recorded a net purchase of Rp 903.70 billion in all markets.
“However, fluctuations in commodity prices will still provide sentiment for the JCI movement for some time to come, so that if there is a reasonable correction, investors can still take advantage of the momentum to make accumulated purchases with short-term targets,” he said in his research, Monday (11/10).
He predicts that the JCI will move in a range of 6,336-6,542 on Tuesday (12/10). He said, some stocks that can be observed on Tuesday (12/10) trading are as follows: BBNI, ENVR, EXCL, AALI, AKRA, TLKM, and ITMG.
Meanwhile, Kiwoom Sekuritas Indonesia analyst Sukarno Alatas stated that the JCI closed down with a: candle bearish. Indikator stochastic potensi dead cross, MACD histogram is moving positive but down (line bullish) and the volume goes down.
Sukarno continued, JCI failed break resistance or false break. If the JCI moves bearish and breakdown 6,458, the JCI is expected to continue to decline towards support 6,392 – 6,416 on Tuesday (11/10). On the other hand, when able to move bullish, there is a chance to retest at the levels of 6.506 – 6.514.
Some stocks that according to Sukarno could be an option in Tuesday’s trading (12/10) are as follows:
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