Home » Business » JCI is predicted to continue weakening on Tuesday (1/12), take a look at the following stocks

JCI is predicted to continue weakening on Tuesday (1/12), take a look at the following stocks

ILLUSTRATION. A janitor passes in front of the screen of the stock trading movement on the Indonesia Stock Exchange, Jakarta. BETWEEN PHOTOS / Puspa Perwitasari / wsj.

Reporter: Kenia Intan | Editor: Herlina Kartika Dewi

KONTAN.CO.ID – JAKARTA. The Jakarta Composite Index (JCI) closed down 2.95 percent to 5,612 at the end of trading Monday (30/11).

Artha Sekuritas Indonesia analyst Dennies Christoper Jordan observed, JCI closed lower in line with MSCI’s rebalancing. In addition, the strengthening in the past week has also entered the overbought area, resulting in a correction. On the other hand, there are concerns that Covid-19 cases will increase.

For trading on Tuesday (1/12), JCI is predicted to continue weakening.

“The correction is expected to continue in the short term. Investors will look at several economic data, including manufacturing data and inflation data,” he explained in a research received by Kontan.co.id, Monday (30/11).

In addition, investors are still watching the increase in the number of Covid-19 cases.

Also Read: OJK plans to increase the minimum value of the securities public offering

Dennies estimates, JCI on Tuesday (1/12) will move with support levels of 5,517 to 5,422. While the resistance levels are at 5,752 to 5,892.

In the midst of the predicted weakening of the JCI, analysts have observed that these stocks will experience a correction but remain above support levels such as PT PP Tbk (PTPP), PT Aneka Tambang Tbk (ANTM), and PT Sarana Menara Nusantara Tbk (TOWR).

Analysts suggest entering PTPP’s shares at a price of Rp 1,370 to Rp 1,410. Stop loss at IDR 1,350. The target price is IDR 1,500 to IDR 1,550.

Meanwhile, for ANTM, investors are advised to enter these shares at a price of Rp 1,180 to Rp 1,210. Stop loss at IDR 1,150. The target price is targeted at IDR 1,260 to IDR 1,300.

For TOWR, analysts suggest entering the price of Rp. 1,070 to Rp. 1,090. Stop loss at IDR 1,050. The target price is at IDR 1,150 to IDR 1,200

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Reporter: Kenia Intan
Editor: Herlina Kartika Dewi

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