JCI is predicted to continue to weaken, see recommendations for WIKA, ASRI and BRPT shares

Reporter: Kenia Intan | Editor: Wahyu T. Rahmawati

KONTAN.CO.ID – JAKARTA. The Jakarta Composite Index (JCI) closed in the red zone on Monday (7/9). JCI was recorded to have weakened 0.18% to the level of 5,230.20.

Quoting data from the Indonesia Stock Exchange (IDX), the financial sector has eroded the most by 1.05%. After that followed by the agricultural sector which was down by 0.97%, and the miscellaneous industry sector which was under pressure by 0.22%.

Artha Sekuritas analyst Dennies Christopher Jordan revealed, the weakening of the JCI was triggered by the heightened tensions between the United States (US) and China which would again limit exports. This burdensome global sentiment occurred amid the improving unemployment data.

Meanwhile, from within the country, the addition of daily Covid-19 cases which is getting higher is the weighting sentiment for the JCI. Today, there are an additional 2,880 new corona cases in Indonesia, bringing the total cases to 196,989 cases.

Also Read: Cadev’s record is not strong enough to lift JCI today, what about tomorrow?

The JCI movement tomorrow, Tuesday (8/9), is predicted to continue to weaken. Technically, Dennies observes candlestick forming a pattern double top accompanied by indicators stochastic which widens after shaping dead cross indicates a trend bearish will still continue.

JCI is predicted to weaken by level support 5,202 to 5,173. While level resistance are at 5,255 to 5,273. “Investors are still watching the increase in new cases of Covid-19 from within the country, which has risen quite significantly,” said Dennies in his research, Monday (7/9).

In the midst of a weakening of the JCI, here are the stocks that need to be watched out for:

1. PT Wijaya Karya Tbk (LANGUAGE)

WIKA strengthened after rebound of area support. Candlestick forming a pattern morning doji bullish star indicates there is a potential reversal of the direction to bullish. Analysts suggest entering WIKA’s shares at a price of IDR 1,230 to IDR 1,260. Stop loss at IDR 1,210. The target price is set at Rp. 1,320 to Rp. 1,350.

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PT Alam Sutera Realty Tbk (ASRI)

ASRI is experiencing correction still stuck around support train short term consolidation. Investors are advised to enter ASRI shares at a price of Rp. 118 to Rp. 122. Stop loss Rp. 115. While the target price is Rp. 130 to Rp. 135.

Also Read: As a result of the pandemic, Alam Sutera (ASRI) increased the allocation of digital promotion funds

3. PT Barito Pacific Tbk (BRPT)

BRPT rebound of area support with high volume supported stochastic which widens after shaping golden cross. Indicates potential bullish. Analysts suggest that investors enter BRPT’s shares with a target price of IDR 800 to IDR 830. Stop loss at IDR 780. The BRPT price target is at IDR 870 to IDR 890.

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