Today, the Jakarta Composite Index Predicted to Rise In the Range of 6,179-6,232
By : Abraham Sihombing And Aldo Bella Putra | Wednesday, March 28 2018 - 14:00 IWST
PT Indocement Tunggal Prakarsa Tbk (INTP) (Foto Ist)
INDUSTRY.co.id - Jakarta - The Jakarta Composite Index (JCI) is expected to strengthen in the range of 6,179-6,232 in today's trading after trading on Tuesday (27/03/2018) yesterday rose 0.15% to 6,209 positions.
"A rise to 6209 in yesterday's trading indicates that the index is starting to hold above the support target range of 6,193-6,208. The movement of the index today seems to be good in early trading despite interspersed by a slight weakening," said Reza Priyambada, an analyst at PT Binaartha Parama Sekuritas, in Jakarta, Wednesday (28/03/2018).
Nevertheless, according to Reza, today's index increase is still to be tested for its durability to confirm further strengthening. Variations in movement that try to strengthen predicted to be re-occur in today's trading.
Therefore, Reza hopes JCI can maintain momentum in order to rebound so tend to strengthen. However, market participants are advised to stay on the lookout for profit taking that risks holding back the index's rise.
Reza said, in the midst of the projection of movement of variation index today, the market participants can accumulate stocks of their choice.
Reza recommends BUY for PT Indah Kiat Pulp & Paper Tbk (PT) shares, PT Petrosea Tbk (PTRO), PT Gudang Garam Tbk (GGRM), PT Chandra Asri Petrochemical Tbk (TPIA) and PT Indocement Tunggal Prakarsa Tbk (INTP). (Abraham Sihombing)