JCI may fall, but this preferred stock should not pass

Jakarta, CNBC Indonesia – The Composite Stock Price Index (JCI) closed down 0.7% at 7,225.61 in the last trading week, Friday (22/4/2022). Had a landslide of more than 1%, JCI rose in the pre-closing session and cut its correction.

When the JCI corrected, foreigners were eager to buy Indonesian shares. In the foreign regular market, the net buy is Rp 1.39 trillion. Meanwhile, in the foreign negotiating market, the net buy was Rp. 839 billion, so in all foreign markets, the net buy was Rp. 2.23 trillion.

The shares which were bought the most by foreigners were BBNI shares and BMRI shares with a net buy of Rp 189 billion and Rp 163 billion, respectively.

Then, how is the JCI movement for today? Check out the JCI predictions complete with stock recommendations as a trading reference today, Wednesday (25/5/2022).

Yugen Grows Securities

The increase that occurred in the JCI movement pattern at the time was still a technical rebound. Meanwhile, sentiment from global and regional market movements will continue to overshadow the JCI movement pattern for some time to come.

As long as the JCI has not been able to close above the nearest resistance level, the JCI’s movement in this short week looks still potentially under pressure. So that investors can still take advantage of the price fluctuation momentum to carry out daily trading. JCI is predicted to move in the range of 6,854 – 6,978

Stock Recommendation:

– ITMG
– TLKM
– BBRI
– HMSP
– ICBP
– BBNI
– SMGR
– ASRI

SF Securities

JCI formed Bullish Harami signaling a strengthening and testing resistance levels. However, if the JCI fails to penetrate the 6920 resistance, the JCI has the opportunity to move into short-term consolidation today. The index is expected to move in the range 6.830-6.920.

Stock Recommendation:

– MLIA
– SSMS
– CSRA
– STAA

MNC Securities

Closing trading yesterday (24/5), JCI closed up 1.1% to 6,914 and is still trying to test its immediate resistance at 6.972. We estimate that if the JCI has not been able to strengthen above 6.972, then the JCI position is currently at the beginning of the wave. [v] on the black label and will aim to 6.686-6.795 first for the correction level.

The good news is that the JCI correction will be relatively limited and will be able to break the resistance to form the end of wave B to the 7.032 area. The index is expected to move in the range of support 6,760-6,620 and rexistance: 6.972-7.120

Stock Recommendation:

– PGAS
– ADMR
– BMRI
– UNVR

[Gambas:Video CNBC]