KONTAN.CO.ID – JAKARTA. The Stamina of the Composite Stock Price Index (JCI) was still prime and rose 0.78% to 5,132.57 on Tuesday (13/10). Even though in the first trading session, the JCI had weakened.
Indo Premier Sekuritas analyst Mino said the JCI had weakened because investors were a little worried about the massive demonstration plan to reject the Job Creation Law.
“However, the JCI reversed direction in the second session as Bank Indonesia (BI) maintained the benchmark interest rate at 4%,” he explained when contacted by Kontan.co.id, Tuesday (13/10).
Another positive sentiment came from the announcement of the planned merger of state-owned sharia banks, namely PT BRI Syariah Tbk (BRIS), PT BNI Syariah, and PT Bank Syariah Mandiri. In addition, strengthening indices on US exchanges and the majority of regional exchanges also added to the positive sentiment on the market.
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For trading Wednesday (14/10), Mino predicts the JCI will strengthen by support at the level of 5090 and resistance 5,176. Sentiment stemmed from further fiscal stimulus talks in the United States, financial reporting season, and less-than-expected demonstrations.
Likewise, MNC Sekuritas analyst Herditya Wicaksana also projected that JCI would gain limited strength support at 5090 and resistance 5,150. “Technically, IHSG still has little potential and it is estimated that the banking sector will still be the driving force for tomorrow,” he said.
Even so, Herditya also saw that the JCI was vulnerable to correction. In this condition, market players can look at stocks with attractive technical movements, such as PT Bank Rakyat Indonesia Tbk (BBRI), PT Bank Negara Indonesia Tbk (BBNI), PT Adaro Energy Tbk (ADRO), and PT Bukit Asam Tbk (PTBA).
Meanwhile Mino recommends investors to trade BBNI, PT Bank Tabungan Negara Tbk (BBTN), and PT Barito Pacific Tbk (BRPT).
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