JCI is turning towards the green zone, check analyst stock recommendations today

Armfalcon.com, JAKARTA — The Jakarta Composite Index (IHSG) reversed its direction to the green zone after opening lower on Wednesday (10/5/2023). JCI rose to a level of 6,808.88 or strengthened by 0.43 percent.

JCI has the potential to continue its increase today. “JCI has a chance reboundsbut the trend is still bearish if it closes below 6,815,” said Head of Technical Research BNI Sekuritas Andri Zakarias Siregar.

Yesterday, most exchanges in the Asia Pacific region experienced corrections. Several stock exchanges that recorded significant declines were the Hang Seng and the SSE Composite Index, while the Nikkei and JCI experienced gains.

China recorded a trade balance surplus of 90.2 billion US dollars in April 2023, higher than forecast. Household spending Japan in March 2023 fell 1.9 percent yoy compared to the forecast of 0.4 percent yoy. Indonesia’s consumer confidence index (IKK) rose to 126.1 in April 2023.

From the US, the Dow Jones Industrial Average closed lower by 0.17 percent. Likewise the S&P 500 fell by 0.46 percent, while the Nasdaq index also corrected by 0.63 percent.

“Investors are getting ready to face the inflation report that will be released this week as well as developments on the US debt limit,” said Andri.

BNI Sekuritas recommends a number of shares to be traded today.

1. PT Bank Mandiri (Persero) Tbk (BMRI)

Resistance: 5.125/5.225/5.325/5.475

Supports: 5.025/4.950/4.900/4.780

Recommendation: SPECULATIVE BUY target 5.225/5.325 stop loss below 4.950

2. PT Telekomunikasi Indonesia (Persero) Tbk (TLKM)

Resists: 4,100/4,190/4,250/4,330

Support: 4.030/4.000/3.940/3.880

Recommendation: SPECULATIVE BUY target 4,150/4,190 stop loss below 4,000

3. PT Merdeka Copper Gold Tbk (MDKA)

Resistance: 3,400/3,490/4,600/4,770

Supports: 3.270/3.240/3.040/2.950

Recommendation: BUY 3,300-3,350 target 3,490/3,600 stop loss below 3,240

4. PT Jasa Marga (Persero) Tbk (JSMR)

Resists: 3,540/3,570/3,630/3,700.

Support: 3.460/3.420/3.350/3.310

Recommendation: BUY IF BREAK 3,510 target 3,570/3,630 stop loss below 3,400

5. PT Astra International Tbk (ASII)

Resistance: 6.375/6.450/6.575/6.700

Support: 6.250/6.150/6.025/6.000

Recommendation: BUY ACCUMULATION target 6,450/6,500 stop loss below 6,175

6. PT Eagle Mahkota Teknologi Tbk (EMTK)

Resistances: 730/745/760/800

Supports: 715/705/685/650

Recommendation: BUY ACUMULATION target 735/750 stop loss below 675