JCI is predicted to continue strengthening, watch the movements of PTPP, ANTM, and TOWR

ILLUSTRATION. JCI is predicted to continue strengthening, watch the movements of PTPP, ANTM, and TOWR

Reporter: Kenia Intan | Editor: I knew Laoli

KONTAN.CO.ID – JAKARTA. Composite Stock Price Index (IHSG) closed in the green zone on Friday trading (27/11). JCI was recorded to have strengthened 0.41% to 5,783.34 levels.

Quoting records from the Indonesia Stock Exchange (IDX), the majority of sectors on the stock exchange are indeed green. The property, real estate and building construction sectors recorded the most significant gains of 2.68%. After that, followed by the mining sector which increased by 2.47%,

Artha Sekuritas Indonesia analyst Dennies Chrisoper Jordan explained, JCI closed higher in line with optimism for economic recovery at the end of 2020. On the other hand, investors are still focused on vaccine development and the number of new cases.

For trading tomorrow Monday (30/11), JCI has the potential to continue strengthening with support levels of 5,753 to 5,724. Meanwhile, the resistance levels are at the prices of 5,824 to 5,803.

Also Read: Surrounded by positive sentiment, JCI has the potential to continue strengthening on Monday (30/11)

“Technically, the current movement is still in a strong trend. However, it is necessary to be aware of the potential for short-term correction,” he explained in a research received by Kontan.co.id, Juma (27/11). He further explained that the movement was still driven by optimism for economic recovery at the end of the year. Meanwhile, from within the country there is still minimal economic sentiment.

Amid the JCI which is projected to increase, analysts observe the movements of these stocks:

1. PT Pembangunan Perumahan Tbk, (PTPP)

PTPP breakout resistance has the potential to test the next resistance. Entry Level, target price, and stop loss are increased. Analysts suggest entering this stock at a price of Rp 1,370 to Rp 1,410. Stop loss at IDR 1,350. The PTPP target price is set at IDR 1,500 to IDR 1,550

2. PT Aneka Tambang Tbk (ANTM)

ANTM underwent a correction and returned to the range of the consolidation trend. Investors are advised to enter these shares at a price of Rp 1,180 to Rp 1,210. Stop loss at IDR 1,150. ANTM target price is IDR 1,260 to IDR 1,300

3. PT Sarana Menara Nusantara Tbk (TOWR)

TOWR candlestick forms a long white body with the stochastic forming a goldencross indicating potential strengthening. Test the closest resistance. Investors are advised to enter at a price of Rp. 1,070 to Rp. 1,090. Stop loss at a price of IDR 1,050. The TOWR target price is at IDR 1,150 to IDR 1,200.