JCI is predicted to weaken again on Friday (13/11), check the technical recommendations of these 3 stocks

Reporter: Kenia Intan | Editor: Khomarul Hidayat

KONTAN.CO.ID – JAKARTA. The Jakarta Composite Index (JCI) closed in the red zone at the close of trading, Thursday (12/11). Data from the Indonesia Stock Exchange (IDX) shows that the JCI was recorded to have weakened 0.92% to 5,458.60.

Artha Sekuritas Indonesia analyst Dennies Christoper Jordan observed, JCI weakening was triggered by profit taking or profit taking. Just so you know, it’s been the last week that the JCI has strengthened significantly, driven by optimism for the Covid-19 vaccine. According to RTI Business, the JCI has strengthened 3.77% this week.

The JCI is expected to continue weakening on Friday (13/11) trading. JCI will move with support levels at 5,438 to 5,418 and resistance levels at 5,489 to 5,520.

“Technically candlestick forming lower high and lower low with high volume and stochastic indicator forming deadcross indicates the potential to continue weakening, “said Dennies in a research received by Kontan.co.id, Thursday (12/11).

Also Read: Continuing profit taking, JCI is predicted to be under pressure on Friday trading (13/11)

Furthermore, he said, the JCI movement would have minimal sentiment towards the end of the week.

Amid the JCI that continues to weaken, analysts observe the price movements of these stocks:

1. PT Wijaya Karya Bangunan Gedung Tbk (WAYS)

Undergoing correction but still stuck around the support. Analysts are advised to enter WEGE shares at a price of Rp 175 to Rp 180. Stop loss at Rp 195. The target price for WEGE is set at Rp 205 to Rp 210.

2. PT Media Nusantara Citra Tbk (MNCN)

Experiencing a correction, the support breakdown and stochastic forming a deadcross indicate the weakening will continue. Investors are advised to sell or take profit. Meanwhile, investors can re-enter MNCN shares at a price of Rp. 830 to Rp. 850. Stop loss at Rp. 870. The target price for MNCN is Rp. 930 to Rp. 950.

3. PT PP Tbk (PTPP)

Underwent correction but still stuck around support. Investors are advised to enter this stock at a price of Rp. 910 to Rp. 930. Stop loss at Rp. 990. The PTPP target price is set at Rp. 1,050 to Rp. 1,070.