Jakarta, CNBC Indonesia – The Composite Stock Price Index (IHSG) on Thursday (22/10/20) closed in the red zone, slightly down 0.09% at the level of 5,091.44.
Trade data noted that foreign investors made net selling of Rp 251 billion in the regular market with today’s transaction value of Rp 9.3 trillion.
Market participants are watching talks around US stimulus with lingering uncertainty regarding whether or not a deal will be reached before November 3.
However, comments by the Chief of Staff to the Speaker of the House of Representatives Nancy Pelosi, Drew Hammill, promised new optimism.
“Spokesman and Finance Minister Mnuchin chatted at 14:30 for 48 minutes. Today’s discussion brings us closer to signing stimulus legislation,” Hammill wrote on Twitter after the Wall Street market closure.
The two, he continued, plan to meet again this Friday. The White House and Democrats continue to narrow the gap around health priorities, but there is still much to be done.
Futures came under pressure after US officials said Iran would act to interfere in the US presidential election and Russia had information about US voters
The market will also monitor US employment data, namely the filing of jobless claims along with the market opening. Economists polled by Dow Jones had expected the Labor Department to release a figure of 875,000 new jobless claims a week ago.
In addition, market players will also be paying close attention to the US presidential candidate debate that brings Republican incumbent Donald Trump with his Democratic challenger Joseph ‘Joe’ Biden this morning.
For weekend trading Friday (23/10/2020) the following sentiments and stocks recommended by several securities:
Samuel Sekuritas – Motion Index Still Sideways
JCI continues to be in a sideways bias amid the lack of market moving sentiment. Watch the minor support level at the 5050 gap for the continuation of the current JCI dynamics.
Preferred stocks:
ASII
BBRI
SSIA
BRPT
Artha Sekuritas – Wait for the Issuer’s Performance Report
JCI is predicted to weaken limited. The movement is still overshadowed by the uncertainty over US stimulus, which has yet to reach an agreement. Investors will still be waiting for several issuers’ financial reports as of the third quarter of 2020, especially large cap issuers. The improved performance of listed companies is expected to support the JCI movement.
Preferred stocks:
BBKP
LPKR
PTBA
ASII
Reliance Sekuritas Indonesia – There is a Signal of a Short-Term Rebound
Technically, JCI has successfully tested fractal support in the range of 5070 and potential rebound traded next even though the stochastic indicator is still moving bearish with span which narrows in the vicinity oversold (oversold). The MACD indicator is bearish momentum. So that JCI has the potential to continue the short-term rebound signal with a stronger test resistance (upper limit) MA50 as confirmation of further strengthening at the end of the week.
Preferred stocks:
AALI
GGRM
HMSP
INDF
MNC Sekuritas – Pay Attention to Index Motion
Stay alert again at the 5.067 level support (lower limit), if the movement of the IHSG penetrates back to that level then the IHSG will move towards the area of 5,000-5,050 to form a red wave (iv). However, when the IHSG succeeds in penetrating resistance closest is 5.135, JCI has the potential to move up to 5.182-5.187 to form the initial wave (v) of the wave [c] of wave B.
Preferred stocks:
JSMR
ACES
EXCL
(bag bag)
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