JAKARTA, ARSENDANGNEW-The Indonesian stock market for the period November 7 to 11 2022 was mostly closed in the positive zone. The increase occurred in the average daily exchange transaction frequency of 8.97% to 1,302,824 transactions during the week from 1,195,583 transactions in the previous week.
Then, the average stock exchange transaction volume this week also increased 3.12% to 21.2 billion shares from 20.6 billion shares. Stock exchange market capitalization also increased 1.35% to Rp 9,469.057 trillion from Rp 9,342.695 trillion in the previous week.
The movement of the Jakarta Composite Index (IHSG) also increased 0.62% to 7,089.206 from 7,045.527 the previous week.
However, the average daily stock exchange transaction value decreased 2.37% to IDR 13.035 trillion from IDR 13.352 trillion. Foreign investors today recorded a net selling value of IDR 660.93 billion and throughout 2022 foreign investors recorded net purchases of IDR 79.665 trillion.
Check out the JCI predictions along with recommendations for selected stocks from brokers for trading on Friday (14/11/2022).
Yugen Growing Securities
JCI movement patterns are seen trying to get out of the normal consolidation range after experiencing pressure some time ago. Meanwhile, foreign investors are still recording capital inflows in terms of terms which still show investor interest in the Indonesian capital market.
However, if the JCI cannot be maintained above the nearest resistance level, investors must still be aware of the potential for a reasonable correction. This day, the JCI has the potential to experience a limited increase which will move in the range of 7,032 to 7,141.
Stock Recommendations:
-ICBP
- BMRI
- SMGR
- AALI
- CTRA
- AKRA
- KLBF
- BBRI
Pilarmas Investindo Securities
Based on technical analysis, we see that the JCI has the potential to strengthen within the range of 7,000 - 7,145.
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Stock Recommendations:
- MDKA
- BBRI
- BIPI
Artha Securities
Today's JCI is expected to trade at resistance 7,116-7,143 and support 7,015-7,052. Technically, JCI is predicted to strengthen with candlesticks forming higher highs and higher lows and golden crosses at MA5 and MA20 indicating potential for strengthening.
JCI movement was driven by optimism that the Fed's interest rate would not be too aggressive. Meanwhile, from within the country, the performance release season is still being pushed in the third quarter of 2022.
Stock Recommendations:
- WIKA
- TOWR
- MDKA
-MPPA
- SMRA
- CTRA
-MEDC
Phintraco Securities
JCI has the opportunity to continue strengthening to the range of 7,130-7,160. Today is expected to move at resistance 7160, pivot 7100 and support 7050. The market expectation is that the Fed will slow down the rate of increase of the Fed Rate in the near future.
Meanwhile, for the next week, the range of JCI movement is expected to be above the psychological level of 7,000.
Stock Recommendations:
- ADRO
-ITMG
- PTBA
- UNTR
- AGRO
- BBRI
- BMRI
- PGAS
-MEDC
- KLBF
PT MNC Sekuritas
As long as it is not corrected below 6,956 as the support area, the JCI position is estimated to have completed Wave b on the black label or Wave (ii) on the red label. The JCI will move at the JCI support level at positions 6,890 and 6,956, while the resistance is at the 7,128 and 7,178 levels.
Stock Recommendations:
- BIPI
-ELSA
- GOTO
- CARE
PT Binaartha Sekuritas
Today's JCI is expected to trend upwards. It is likely to test the fractal resistance 7.128 and a rise above it will confirm the formation of Wave (c) of Wave [x] according to the alternative scenario.
Currently the JCI has support at the levels of 6,937, 6,892 and 6,803, while the resistance is at positions 7,100, 7,128-7137 and 7,200.
Stock Recommendations:
- ASII
- BBRI
- BRPT
- HRUM
- INKP