Jakarta, CNBC Indonesia – The Jakarta Composite Index (JCI) closed in the red zone last Monday (2/11/20), down 0.26% to 5,115.12 levels.
Trade data noted that foreign investors carried out net sell actions of Rp 527 billion in the regular market with a transaction value of Rp 9.6 trillion.
Yesterday, the Central Statistics Agency (BPS) released data showing inflation after three consecutive months of deflation, indicating indications of a recovery in people’s purchasing power.
In October, there was inflation of 0.07% on a monthly basis (month-to-month / MtM). Meanwhile, calendar year inflation (year-to-date / YtD) is at 0.95 %% and annual inflation (year-on-year / YoY) is 1.44 %%.
For trading Tuesday (3/11/2020) the following are sentiments and stocks recommended by several securities:
MNC Sekuritas – JCI Still Vulnerable to Correction
JCI is still vulnerable to continuing its weakness at least to test the area support (lower limit) at 5,060-5,063. However, keep an eye out for levels support if IHSG penetrated support, the JCI will aim at the 5,000-5,040 area. Conversely, if the JCI was able to penetrate resistance (upper limit) 5,150, the JCI will go to resistance next at 5,182 or even to 5,200.
Preferred stocks:
BMRI
INDY
JPFA
Samuel Sekuritas Indonesia – Investors Still Wait and See
JCI continues to be biased sideways amid the lack of market driving sentiment. Estimated market tend wait and see ahead of the results of the United States presidential election, November 3 US time.
Preferred stocks:
BMRI
BMRI
SCMA
TLKM
Reliance Sekuritas Indonesia – Index Still in Strengthening Momentum
Technically, JCI moved lower and stuck at the Moving Average support level 50 days after success whipsaw at the level support 20 day moving average. The movement has the potential to form a pattern flag pattern with confirmation upper bound in the range of Moving Average 200 at the level of 5,140s. The Stochastic indicator is consolidating but still colored with positive momentum so it is estimated that JCI has the potential to strengthen.
Preferred stocks:
ACST
AALI
DOID
GGRM
Artha Sekuritas – Observe Volatility Ahead of the US Election
JCI predicted to strengthen. The movement will tend to be stronger due to the release of issuers’ financial reports as of 3Q20, supported by manufacturing data that is quite good compared to expectations. However, the moves are expected to be volatile on the day of the United States presidential election.
Preferred stocks:
INCO
IMAS
ASII
(bag bag)
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