JCI Predicted to Rebound, Take a Peek at Today’s Stock Recommendations : Okezone Economy

JAKARTA – Composite Stock Price Index (IHSG) is predicted to strengthen again in today’s trading. The index movement will be in the range of 6,077-6,154.

Reliance Sekuritas analyst Lanjar Nafi said the JCI movement was technically weak but was again stuck at the Moving Average support level. The movement of the momentum is consolidating in the middle area of ​​the stochastic and RSI indicator oscillators.

“The direction of movement still gives a positive trend signal as long as the JCI is still strong above 6,077 and 6,050 which are the current 50 and 200 day moving averages. So it is estimated that JCI will try to move up in the next trade with support and resistance at 6,077-6,154,” said Lanjar in his research, Wednesday (8/9/2021).

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Stocks that can be observed technically include; BBRI, SIMP, SILO, PWON, MAIN, HMSP, BNGA, BRPT, ANTM, AGII.

Previously, the JCI closed down 14.54 points or 0.24% to 6,112 with a downward trend since the beginning of the trading session. The Technology (-2.35%), Basic Materials (-1.82%) and Industrial (-1.04%) sector indexes weakened more than a percent to put pressure on the JCI. TPIA, DCII, ARTO, ASII and BUKA shares fell, leading the stock movement below the JCI average.

Foreign investors recorded buying actions of Rp. 187.61 billion in shares of BBCA, TLKM, BMRI, BBNI and UNTR which became the top net buy value of foreign investors. Bank Indonesia released data on Foreign Exchange Reserves as of August 2021, which jumped high and recorded the highest record in Indonesia’s history, failing to boost investor optimism until the end of the trading session.

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The position of Indonesia’s foreign exchange reserves at the end of August 2021 was recorded at USD144.8 billion, an increase compared to the position at the end of July 2021 of USD137.3 billion. The position of foreign exchange reserves is equivalent to financing 9.1 months of imports or 8.7 months of imports and servicing government external debt, and is above the international adequacy standard of around 3 months of imports.