The Jakarta Composite Index (JCI) has the potential to weaken in Monday’s trading (26/7/2021). In stock trading on Friday, July 23, 2021, the JCI closed down 0.6 percent to 6,101.
PT MNC Sekuritas analyst, Herditya Wicaksana said, as long as the JCI is still above the nearest support levels of 6,015 and 5,947, the JCI movement is currently still in the wave (iii) part of wave c.
"We estimate that, although corrected, the JCI will move in the range of 6,050-6,150 first. If the JCI manages to break through the resistance at 6,166, the JCI will head to 6,200-6,230," Herditya said in his note.
Herditya predicts that JCI will move at support at 6,015,5,947 and resistance at 6,166.6,230 on Monday, July 26, 2021.
Herditya chose a number of stocks that market participants could observe. The shares include PT XL Axiata Tbk (EXCL), PT Indomobil Sukses Internasional Tbk (IMAS), PT Indika Energy Tbk (INDY), and PT Bumi Serpong Damai Tbk (BSDE).
Here are the technical recommendations:
1.PT XL Axiata Tbk (EXCL) -Buy on Weakness (2,450)
In trading on Friday, July 23, 2021, EXCL's shares closed a significant correction of 2.4 percent to the level of 2,450.
"As long as the EXCL stock movement can still hold above 2,360 as support, we estimate the EXCL movement is at the beginning of wave 3 of wave (C) so that EXCL has the opportunity to reverse higher," he said.
Buy on Weakness: 2,400-2,450
Target Price: 2,630, 2,870
Stop loss: below 2.360
2.PT Indomobil Sukses Internasional Tbk (IMAS) - Buy on Weakness (885)
IMAS shares closed down 0.6 percent to 885 in trading Friday, July 23, 2021.
"We estimate that as long as IMAS is still able to move above 840, the current position of IMAS is at the beginning of wave [iii] of wave 1 of wave (C)," he said.
Buy on Weakness: 855-885
Target Price: 1,040, 1,180
Stop loss: below 840
3. PT Indika Energy Tbk (INDY) - Buy on Weakness (1,370)
In trading on Friday, July 23, 2021, cara untung main togel INDY shares closed corrected quite aggressively by 3.5 percent to the level of 1,370.
"The correction in INDY's stock yesterday was still holding up its MA60, we estimate, INDY's position is currently at the beginning of wave [c] of wave B so that INDY still has the chance to bounce back," he said.
Buy on Weakness: 1.330-1.370
Target Price: 1,550, 1,650
Stop loss: below 1,300
4. PT Bumi Serpong Damai Tbk (BSDE) - Buy on Weakness (970)
BSDE shares closed down 1 percent to 970 on Friday, July 23, 2021.
"We estimate that BSDE's position is currently at the beginning of wave [ii] of wave 1 of wave (C). This means that BSDE's correction will be relatively limited and has the opportunity to strengthen again," he said.
Buy on Weakness: 920-970
Target Price: 1,060, 1,130
Stop loss: below 885