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ILLUSTRATION. The monitor screen shows the movement of the Jakarta Composite Index (IHSG) in stock trading in Jakarta. BETWEEN PHOTOS / Hafidz Mubarak A / wsj.
Reporter: Kenya Intan | Editor: Herlina Kartika Dewi
KONTAN.CO.ID – JAKARTA. The Jakarta Composite Index (JCI) strengthened 0.38 percent to 5,356.01 on Monday (September 11).
Citing data from the Indonesian Stock Exchange (IDX), most sectors earlier this week were really green. The mining sector registered the most significant strengthening of up to 2.38%. Then the infrastructure sector followed up to 1.18%.
Artha Sekuritas Indonesia analyst Dennies Christoper Jordan notes that JCI closed higher, backed by optimism following Joe Biden’s victory in the US presidential election. The election of Biden is expected to promote better political and economic conditions.
However, Dennies estimates that JCI will not strengthen in trade tomorrow Tuesday (11/10). JCI is forecast to move lower with support levels between 5,318 and 5,280. While resistance levels are at 5,394-5,432.
Read also: JCI Skyrocketed, Mutual Fund Performance Also Increased
“The move is vulnerable to a correction after last week’s surge entered the overbought area following great optimism following Joe Biden’s victory in the US presidential election,” he said in an investigation received by Kontan.co.id, on Monday (September 11).
Just so you know that over the past week, JCI was recorded to have strengthened by 4.71%
Meanwhile, Dennies continued, the negative sentiment also stemmed from concerns about Covid-19 in Europe, which is currently spreading again. Meanwhile, from within the country, Dennies still sees minimal sentiment.
Amid JCI, which is forecast to weaken, analysts suggest looking at these actions:
1. PT Astra International Tbk (ASII)
ASII underwent correction and support in case of breakdown. ASII has the potential to weaken and revert to a consolidation trend. Investors are advised to sell or make a profit. Meanwhile, investors can re-enter at a price of Rp. 4,900 to Rp. 4,950. Stop Loss 5,700. The target price is Rs 5,900 to Rs 6,000.
2. PT Media Nusantara Citra Tbk (MNCN)
MNCN is still moving in an uptrend. Potentially the next endurance test. Analysts suggest that investors enter this stock at a price of Rp. 830 to Rp. 850. The loss limit is Rp.
3. PT PP Tbk (PTPP)
Boosting with a high enough volume shows build-up. The stochastic indicator that forms a golden cross indicates a potential strengthening. The target price and stop loss are increased.
Meanwhile, investors can enter the PTPP at a price of Rp. 910 to Rp. 930. The stop loss is Rp. 950. However, the target price of the PTPP is Rp. 1,000 to Rp. 1,020.
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