Jakarta, CNBC Indonesia – Early this week, the domestic stock market closed higher, as reflected in the Jakarta Composite Index (JCI), which rose 0.44 percent to 5,126.33 points.
Trade data noted that on Monday (19/10) the transaction value reached Rp. 8.59 trillion with a volume of 12.89 billion units of shares. Foreign market players were recorded to have net sales of Rp. 394.37 billion.
Some of the most traded stocks yesterday included ANTM (Antam), BBCA (BCA), TLKM (Telkom), BRIS (Bank BRISyariah) and ASII (Astra).
Before starting trading Tuesday (20/10/2020), consider the recommended stock options from a number of brokers summarized by CNBC Indonesia:
MNC Sekuritas – 5,200 Level Test
MNC Sekuritas estimates that the JCI is currently in its early stages wave (v) of wave [c] of wave B. This means that JCI will test the area of 5,200-5,250. However, if the JCI is corrected below 5,067, then the JCI is forming wave (iv) in the red scenario and the JCI correction level is estimated at 5,000-5,050.
Preferred stocks:
HMSP
WSKT
BBRI
ERAA
Reliance Sekuritas – JCI Moving Variably
Sentimentally IHSG movement tends to mixed amid the weakening of global markets due to the agreement on US stimulus remains elusive and the lack of domestic sentiment also overshadows the index’s movement today.
Some of the global sentiment that has caught market attention this week includes the Brexit trade talks which are likely to continue into at least next week if the UK and EU fail to reach an agreement. The final presidential debate before the US election, between President Donald Trump and former Vice President Joe Biden, will be broadcast live from Nashville, Tennessee on Thursday.
Preferred stocks:
ADRO
BBRI
CTRA
EXCL
BNI Sekuritas – Bullish Momentum JCI
JCI is showing momentum bullish, supported by neutral Stochastic, candle hanging manMACD bullish, accumulation phase and trend bullish, as long as it is above 5,149, the volume trend is increasing, closing below 5,128 (5 Day MA). If it closes below 5,057 targets 4,962 / 4,880. If it closes again above 5.057, it has the opportunity to go to 5,181 DONE / 5,232.
Preferred stocks:
BBCA
ITMG
KLBF
MYOR
Mega Capital Sekuritas – Economy Begins to Improve
A positive catalyst came from the statement by the Governor of Bank Indonesia, Perry Warjiyo, who stated that a number of business sectors, such as the food and beverage industry, basic metals, telecommunications and footwear have begun to show recovery. Bank Indonesia estimates that in 3Q GDP will still experience contraction, but it is much better than 1Q and 2Q.
Preferred stocks:
ASII
INDF
SSIA
BMRI
(bag bag)
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