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ILLUSTRATION. Investors look at the stock movement screen on the Indonesian Jakarta Stock Exchange. / Pho KONTAN / Carolus Agus Waluyo.
Reporter: Nur Qolbi | Editor: Herlina Kartika Dewi
KONTAN.CO.ID – JAKARTA. The Jakarta Composite Index (JCI) plunged 2.96% to 5,612.42 levels on Monday (11/30). According to RTI data, 405 stocks fell, 112 increased and 115 stocks stalled.
Achmad Yaki, an analyst at BCA Sekuritas, assessed that the drop in JCI was due to the increase in active cases of Covid-19 as of November 29, 2020. Additionally, foreign investors took profits. This can be seen in today’s net sale, which reached IDR 3.27 trillion across all markets.
MNC Sekuritas analyst Herditya Wicaksana revealed, technically, that the JCI movement is expected to be at the end of its strengthening.
“Besides the potential profit taking Y departure foreigners, a significant addition to the Covid-19 cases in Jakarta and Central Java has the potential to lead to further tightening of the PSBB, “Herditya said when contacted by Kontan.co.id on Monday (11/30) .
It estimates that JCI is still vulnerable to the correction of tomorrow Tuesday (1/12), although it does not rule out a small rebound. According to their calculations, JCI will move with support at the level of 5,520 and resistance at 5,700.
Read also: JCI fell 2.96% to 5612 at the end of the day today, foreigners sell net Rp 3.27 T
Herditya advised investors to pay attention to large bank stocks, such as PT Bank Central Asia Tbk (BBCA) and PT Bank Rakyat Indonesia Tbk (BBRI). The reason is that, technically, the movement of these stocks is quite attractive to investors. buy into weakness.
Yaki also predicted that the JCI on Tuesday (1/12) will correct again with support levels in the range of 5.505-5.530 and the nearest resistance at 5.665-5.745. With a similar tone, according to him, this boost could be used to make it buy in support.
He advised investors to pay close attention to the stocks of BBRI, PT Bank Permata Tbk (BNLI), PT Bank Bukopin Tbk (BBKP), PT Bank Mandiri Tbk (BMRI), PT Astra International Tbk (ASII) and PT Telekomunikasi Indonesia Tbk (TLKM).
Looking ahead, there are several other sentiments that could influence the JCI movement. Call it the publication of economic data, such as inflation data, PMI data, and motorcycle sales. “Feeling window dressing it could be a positive sentiment for JCI in the future, “said Yaki.
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