JCI Prone to Taking Profits, Check Today’s Stock Recommendations

Armfalcon.com, JAKARTA — The Composite Stock Price Index (IHSG) has the opportunity to experience limited increases today, Thursday (25/5/2023). In yesterday’s trading, the JCI continued its increase by closing up 0.14 percent.

However, investors are asked to be careful because the JCI is still prone to profit-taking or profit taking. “If the daily closes below 6,811, the JCI still has a chance of correction,” said BNI Sekuritas Head of Technical Research Andri Zakarias Siregar.

Yesterday, Asia Pacific stock exchanges experienced a correction. The SSE Composite Index and Hang Seng Index fell significantly with the Hang Seng Tech index weakening due to declines in Chinese technology stocks such as Alibaba, Baidu and Tencent.

New Zealand raised interest rates by 25 basis points to 5.5 percent as expected. The country’s retail sales fell 4.1 percent yoy in the first quarter of 2023, continuing the contraction in the fourth quarter of 2022. Today, Bank Indonesia will announce 7DRRR which is expected to remain at 5.75 percent.

From the United States (US), last night the Dow Jones Industrial Average closed lower by 0.77 percent, as well as the S&P 500 which corrected by 0.73 percent. While the Nasdaq index fell by 0.61 percent.

The Dow Jones fell for the fourth day in a row as US legislators struggled to reach an agreement on the sovereign debt limit. This raises concerns about potential payment defaults.

With these various sentiments, BNI Sekuritas recommends a number of shares to be traded today:

1. PT Bank Mandiri Persero Tbk (BMRI)

Resistance: 5.125/5.200/5.275/4.325

Supports: 5.025/4.980/4.910/4.880

Recommendation: BUY 5,000 – 5,050 target 5,125/5,275 stop loss below 4,910

2. PT Medco Energi Internasional Tbk (MEDC)

Resists: 910/940/980/1.010

Supports: 870/840/815/800

Recommendation: BUY 870-890 target 910/940 stop loss below 840

3. PT Gajah Tunggal Merdeka Tbk (GJTL)

Resists: 885/905/950/1.005

Support: 840/815/790/765

Recommendation: BUY IF BREAK 865 target 905/950 stop loss below 815

4. PT Ramayana Lestari Sentosa Tbk (RALS)

Resistances: 665/685/705/725

Supports: 635/615/600/585

Recommendation: BUY 640-650 target 670/685 stop loss below 610

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

Resistance: 3.560/3.600/3.660/3.730

Supports: 3.490/3.440/3.370/3.290

Recommendation: BUY ACUMULATION target 3,630/3,660 stop loss below 3,440.

6. PT Erajaya Swasembada Tbk (ERAA)

Resists: 500/515/540/575

Supports: 478/460/436/400

Recommendation: BUY 480-490 target 515/525 stop loss below 460