Pay Attention to ARTO, BFIN, CMRY, and ACES Today (23/1)

STOCK MARKET - JAKARTA. The Composite Stock Price Index (IHSG) strengthened by 0.28% or 20.52 points to the level of 7,247.92 until the end of trading on Monday (22/1). 

Head of Customer Literation and Education at Kiwoom Securities Indonesia, Oktavianus Audi predicts that the IHSG today, Tuesday (23/1) will move limitedly and tend to weaken within the support level range of 7,160 and resistance of 7,300.

Audi said, the MACD indicator still shows a weakening trend and the RSI is still moving limitedly.

Read Also: IDX Opens Weaker in Tuesday (1/23), TPIA, MEDC, UNVR Top Gainers of LQ45

In addition, the increase in the 1Y US bond yield along with the still high hawkish signal from The Fed officials that dampens the expectation of a benchmark interest rate cut, will make investors tend to be cautious. 

“However, the sentiment from the release of the 2023 issuer's performance will support the rise of the IHSG, where we predict a positive growth performance, especially banking,” said Audi, to Kontan.co.id, Monday (22/1).

Read Also: Stock Recommendations for ACES, BSDE, and MEDC for Tuesday (1/23)

The recommended choice of stocks for Tuesday (23/1) are as follows: 

1. Bank Jago Tbk (ARTO)

Recommendation: Trading buy
Support: Rp 3,440   
Resistance: Rp 4,050

2. BFI Finance Indonesia Tbk (BFIN)

Recommendation: Trading buy
Support: Rp 1,175   
Resistance: Rp 1,380

3. Cisarua Mountain Dairy (CMRY) 

Recommendation: Trading buy
Support: Rp 4,020   
Resistance: Rp 4,560

4. PT Ace Hardware Indonesia (ACES) 

Recommendation: Buy on break Rp 820
Support: Rp 775   
Resistance: Rp 895