Some analysts predict that the JCI has the potential to weaken today. However, there is potential for a technical rebound to occur. For that, consider the October 11 trading options stocks and their target prices.
On Monday’s trading (10/10/2022), the JCI closed down by 32 points 0.46% to the level of 6,994. The energy, industry, raw materials, non-primary consumers, finance, transportation and logistics, infrastructure, and property sectors were negative and dominated the decline in the JCI. Foreign investors recorded a net sell in all markets of Rp 721.77 billion.
US stocks closed lower. The Dow Jones closed 29,202.88 (0.32%), NASDAQ closed 10,542.10 (1.04%), the S&P 500 closed 3,612.39 (0.75%). Wall Street stocks closed lower on Monday as investors worried about the impact of further rate hikes.
The losses were driven by a sell-off in technology and chip manufacturers after the United States announced restrictions aimed at crippling China’s semiconductor industry. Federal Reserve Vice Chair Lael Brainard said the tighter US monetary policy is starting to be felt. The economy may be slowing faster than expected, but the full burden of a Fed rate hike is still not in sight for months.
Stocks in Asia-Pacific were mixed on Tuesday as investors weighed the impact of monetary policy and economic uncertainty. The Japanese and South Korean markets resumed trading after a holiday on Monday (10/10/2022). The Nikkei 225 was down about 2% and the Topix lost 1.4%. In South Korea, the Kospi was down 2.26% and the Kosdaq was down 3%.
Taiwan and Malaysia markets are also trading again Tuesday (11/10/2022). In Australia, the S&P/ASX 200 was 0.15% higher. MSCI’s index of Asia Pacific shares outside Japan fell 0.36%.
Seeing these conditions, analysts recommend several stock options for trading and target prices. Starting from an analyst from Mandiri Sekuritas who provides stock options, namely
PNBN
Recommendation: Speculative buy
Closing price: 2.320
Target price: 2,440
Stop loss/Reversal: 2.290
Support: 2.290
Resistance: 2.440
PNLF
Recommendation: Speculative buy
Closing price: 615
Target price: 660
Stop loss/Reversal: 595
Support: 595
Resistance: 660
PNIN
Recommendation: Speculative buy
Closing price: 1.395
Target price: 1500
Stop loss/Reversal: 1.350
Support: 1,350
Resistance: 1,500
PGAS
Recommendation: Speculative buy
Closing price: 1.825
Target price: 1,920
Stop loss/Reversal: 1.770
Support: 1,770
Resistance: 1,920
IPPE
Recommendation: Speculative buy
Closing price: 204
Target price: 224
Stop loss/Reversal: 190
Support: 190
Resistance: 224
WINS
Recommendation: Speculative buy
Closing price: 308
Target price: 336
Stop loss/Reversals: 300
Support: 300
Resistance: 336
Meanwhile, Pilarmas Investindo Sekuritas analysts provide several stock options that can be observed today, namely
INDY
Sold a total of 24.1 million tons of coal until the end of August 2022.
Last Price: 3,200
PER: 2.80x
PBV:0.96x
Support: 3.140
Resistance: 3.270
Target price: 3,300 (Short term) 3,600 (Long term)
Exit: 2,900
CTRA
Print pre-sales income, aka marketing sales, worth IDR 6.5 trillion until the third quarter of 2022.
Last Price: 965
PER: 8.91x
PBV: 0.88x
Support: 930
Resistance: 1.030
Target price: 910 (Short term) 1.150 (Long term)
Exit: 980 (Short term) 910 (Long term)
TLKM
Price: 4.420
Support: 4.360
Resistance: 4.490
MEDC
Price: 990
Support: 965
Resistance: 1.020
KLBF
Price: 1.895
Support: 1,870
Resistance: 1,920
Also read: Artha Sekuritas: JCI Weakens, Monitor Five Prospective Stocks Soaring Today
Meanwhile, Artha Sekuritas also recommends several selected stocks that can be monitored in today’s trading, namely:
MEDC
Target Price: 1.050 – 1.075
Entry Level: 990 – 1.010
Stop Loss: 970
Rebound and strengthened with high volume and the stochastic formed a goldencross indicating the potential to continue strengthening.
ERAA
Target Price: 450 – 460
Entry Level: 428 – 438
Stop Loss: 422
Experiencing correction and breakdown of support. Sell/Cut loss.
ADRO
Target Price: 4.280 – 4.380
Entry Level: 4,080 – 4,180
Stop Loss: 4,000
Experiencing correction and breakdown of support. Sell/Cut loss.
Meanwhile, Phintraco Sekuritas recommends stocks that can be watched in today’s trading, namely
SMGR
Holds above the MA20 which coincides with the 7200 pivot. The formation of a golden cross on the Stochastic RSI supports a minor bullish reversal signal from the white marubozu pattern.
Entry : >=7,200
Stop-loss : <7,000
Target : 7,500-7,625
Resistance : 7.625
Pivot : 7,200
Support : 7,100
ESS
Intraday rebound after being stuck above the support at 935. MFI and Stochastic RSI started moving up from the oversold area, followed by a golden cross on MACD which became an early signal of a minor bullish reversal. Pivot breakout 995 with solid volume will validate the signal.
Entry : >=950
Stop-loss : <900
Target : 1.035-1.075
Resistance : 1.215
Pivot : 995
Support : 935
CPIN
The formation of a morning star is an early indication of a minor bullish reversal supported by a golden cross on the Stochastic RSI in the oversold area. If you are able to return above the 5500 pivot with maintained volume, it will be a validation of a minor bullish reversal signal.
Entry : >=5,400
Stop-loss : <5,200
Target : 5.725
Resistance : 6.000
Pivots : 5,500
Support : 5,300
MNC Sekuritas recommends several selected stocks that can be considered in today’s trading, namely
AGII
AGII closed corrected 0.9% to 2,180 and was still dominated by selling pressure. We estimate that AGII’s current position is at the end of wave [x] of wave 5 on the black label, so that AGII’s correction will be limited and have a chance to strengthen again.
Speculative Buy: 2.130-2.180
Target Price: 2,550, 2,850
Stop loss: below 2.050
CPIN
CPIN closed up 2.4% to 5,425 in yesterday’s trading (10/10) accompanied by the emergence of buying pressure. As long as it does not correct below 5,300 as the support, then CPIN’s position is expected to be at the beginning of wave C of wave (D) and CPIN has a chance to continue strengthening.
Buy on Weakness: 5.375-5.425
Target Price: 5,725, 6.050
Stop loss: below 5,300
LPPF
LPPF closed down 0.7% to 4.370 in yesterday’s trading (10/10) but still able to move above the MA60. We estimate that LPFF’s current position is in the part of wave (iv) of wave [c] of wave A, so LPPF’s correction will be relatively limited and has the chance to strengthen again.
Buy on Weakness: 4.150-4.300
Target Price: 4,800, 5,000
Stop loss: below 4.030
WMPP
WMPP closed up 1.4% to 144 accompanied by the emergence of buying pressure. As long as WMPP is still moving above 134 as the support, then WMPP’s position is at the beginning of wave [c] of wave B and has a chance to continue strengthening.
Spec Buy: 142-144
Target Price: 156, 180
Stop loss: below 134
While the stock recommendations from BNI Sekuritas for today’s trading are:
BBRI
BBRI Chart by TradingView
Resistances: 4,410, 4,460, 4,500, 4,570.
Supports: 4,340, 4,300, 4,250, 4,190.
Recommendation: Speculative buy
Targets: 4,460, 4,510.
Stop loss: below 4,300.
ASII
Resistances: 6,575, 6650, 6,875, 7,000.
Supports: 6,450, 6,375, 6,250, 6,175.
Recommendation: Speculative buy
Targets: 6,600, 6,750.
Stop loss: below 6250.
ESSA
Resistance : 965, 990, 1.050, 1.090.
Support: 940, 920, 900, 875.
Recommendation: Buy if break 965
Target: 990, 1.045
Stop loss: below 915
PGAS
Resistances: 1.850, 1.885, 1.925, 1.975.
Supports: 1,795, 1,755, 1,710, 1,655.
Recommendation: Accumulated buy
Target: 1,885, 1,900
Stop loss: below 1.755.