Bisnis.com, JAKARTA – JCI managed to return to his pace and also sent the fifth day rally at the end of trading on Monday (5/11).
JCI shut down 0.24% or 14.30 points to 5920.59, the highest closing rate since October. Trading on Friday (4/11) JCI exceeded one percent or 70.37 points with 5,906.29.
The index dropped to 5,886 in the red zone when yesterday morning fell by 0,19% or 11.05 points to 5,895.24. On Monday's trading JCI fluctuated within the range of 5,886.21-5 926.63.
Of the 612 shares listed on the Indonesian Stock Exchange (IDX), 179 shares rose, 213 shares fell and 220 shares stopped.
Of the four out of nine industries settled in a positive area, consumer-led by 1.54%, and by different industries by 0.79%. Infrastructure sector, which weakened by 0.66%, ended in the red zone and followed four other areas that limit JCI's growth.
Several listed shares of the consumer, PT Hanjaya Mandala Sampoerna Tbk. (HMSP) and PT Gudang Garam Tbk. (GGRM), which rose from 2.89% to 3.67%, became the most important factor in strengthening JCI.
Indonesian economy reported to have grown 5.17% the previous year (yoy) in the third quarter of this year. This performance is higher than 5.06% in the fourth quarter of last year compared with the corresponding quarter last year.
Quarterly growth was 3.09% in the third quarter or lower than the 5.27% growth in the previous quarter.
Reliance Sekuritas Equity Technical Analyst Lanjar Nafi said that although Indonesia's growth was in line with analysts' consensus, market participants responded positively to the information as it showed Indonesia could cope with the global sentimentality and the decline of the ruble.
In today's trading, investors are focusing on the performance of the service sector performance index in the European Union. The automotive industry and financial services are the EU's biggest weight-holders when the pound is strengthened before the UK trade sessions in the Brexit negotiations.
"JCI is technically on the move in the area upper Bollinger bands successfully survive above the psychological level and downward trend line, However, inventory-driven and RSI indicators seem to be saturated with Stochastic indicators indicating the region's dead cross Overbought, "Lanjar said.
He predicts today that JCI will consolidate and seek to be depressed, including 5,854-5,960 moves. Some recommended stocks are AKRA, EXCL, JPFA, PGAS, PTBA, MEDC and PTPP.
Artha Sekuritas Dennies analyst Christopher Jordan said today that JCI is predicting to be strengthened by the investor anticipating the release of retail sales information. JCI is projected to shift in resistance range 5,935-5,950 and support 5,870-5,895.
"Technically CSPI moves above moving average suggesting that reinforcement is still possible, although the strengthening status is quite limited, "Dennies said. Some of the recommended stores were BKSL, ELSA, INCO, WIKA, PTBA and SSMS.