Technical Recommendations for ARTO, TBIG, ICBP for Today

STOCK RECOMMENDATIONS – JAKARTA. The IDX Composite Index (IHSG) closed up 0.11% to level 7,265,229 in Tuesday's (23/1) trading.

Here are the technical recommendations for several stocks to watch for Wednesday's (24/1) trading.

1. PT Bank Jago Tbk (ARTO)
ARTO's movement closed with a correction accompanied by the emergence of sales volume. From the indicator side, MACD is still in its positive area but the Stochastic movement shows a sign of a deadcross in the overbought area.

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Recommendation: Take profit
Support : Rp 3,480
Resistance : Rp 3,700
Herditya Wicaksana, MNC Securities

 

2. PT Tower Bersama Infrastructure Tbk (TBIG)
An inverted hammer candle appears with a weakening RSI indicator. Stochastic and trading volume also decreased, although MACD moved up and MA20 potentially deadcross.

Recommendation: Sell on strength
Support : Rp 1,905
Resistance : Rp 2,010
Achmad Yaki, BCA Securities

3. PT Indofood CBP Sukses Makmur Tbk (ICBP)
The MACD indicator is still rising, Stochastic at level 75 has just decreased. Meanwhile, the candle is between the upper line and the middle line of the bolinger band.

Recommendation: Buy on weakness
Support : Rp 11,000
Resistance : Rp 12,000
Kiswoyo Adi Joe, Reswara Gian Investa