JCI is expected to weaken, watch these selected stocks for Tuesday (13/10)

Reporter: Kenia Intan | Editor: Anna Suci Perwitasari

KONTAN.CO.ID – JAKARTA. The Composite Stock Price Index (JCI) closed up 0.78% or 39.44 points to a level of 5,093.099, Monday (12/10)

Looking at data from RTI Business, JCI is moving in the green zone throughout the day. In the first trading session, JCI had touched its highest level at 5,103.5. The lowest level is at 5,078.13.

As for the majority of sectors moving green today. The most significant strengthening was recorded by the financial sector up to 1.83%. Following that followed by the agricultural sector and the mining sector which increased by 1.27% and 1.01% respectively.

Artha Sekuritas Indonesia analyst Dennies Christoper Jordan observed, JCI today was still able to close higher amid uncertainty over the plan to provide stimulus in the United States (US) that did not match expectations.

Also Read: JCI managed to go green, all mutual funds recorded positive performance

For trading on Tuesday (13/10), JCI is not expected to continue strengthening. Investors are still watching the development of stimulus in the United States. Meanwhile, from within the country, the political condition is considered unfavorable because the ratification of the Work Creation Omnibus Law Bill was met with demonstrations.

Dennies also saw that technically, the range of gain was limited. “Indicator stochastic currently in the area overbought so it is prone to correction, “said Dennies in a research received by Kontan.co.id, Monday (12/10).

Just so you know, tomorrow’s JCI is predicted to weaken by level support 5,079 to 5,066. Meanwhile, level resistancethe figures are at 5,104 to 5,116.

Amid JCI which is predicted to weaken, analysts observe the movements of these stocks:

1. PT Bukit Asam Tbk (PTBA)

Candlestick forming long white body and indicators stochastic forming goldencross indicates potential reinforcement. Analysts suggest that investors enter PTBA’s shares at a price of Rp 1,970 to Rp 2,000. Stop loss at IDR 1,950. The target price is IDR 2,070 to IDR 2,100

2. PT Bank Negara Indonesia Tbk (BBNI)

Underwent correction, Indicators stochastic still moving wide indicates the range of strengthening is still open. Investors are advised to enter at a price of IDR 4,580 to IDR 4,640. Stop loss at IDR 4,540. The target price for BBNI is set at IDR 4,750 to IDR 4,820.

3. PT Wijaya Karya Tbk (LANGUAGE)

Underwent correction after touching resistance. Analysts suggest sell or take profit. Investors are advised to enter WIKA’s shares at a price of IDR 1,150 to IDR 1,180. Stop loss at IDR 1,130. The target price for this share is at Rp 1,220 to Rp 1,250.