One of the recommended stocks that should be considered is GoTo.
The Composite Recommended Stocks Index (JCI) has the potential to gain limited gains during trading this weekend, Friday (3/6). However JCI is estimated to be still prone to profit-taking.
Head of Technical Analyst Research BNI Sekuritas Andri Zakaria Siregar said technically the index looks in a bullish trend as long as it is above the level of 6,932. So the index has a chance to strengthen and close above the 5 day MA or the level of 7,049.
The Index Has A Chance
As long as it is above 6,930, the index has a chance to go to 6.888 DONE-6,988 DONE-7,040 DONE/ 7.090 DONE/ 7,150/ 7,209 gap DONE. Next target is 7,286/7,355,” said Andri in his research, Friday (3/6/2022).
According to Andri, today the index’s resistance levels are at 7.184/ 7.209/ 7.244 and 7.286. Meanwhile, the support levels are at 7,126/ 7,090/ 7.040 and 7,023 with a range of 7,100 – 7,210 expected to move.
In overnight trading, Wall Street’s main exchanges posted significant gains. The Dow Jones Industrial Average closed up 1.33 percent, the S&P 500 advanced 1.84 percent, and the Nasdaq rose 2.69 percent higher.
Technology Such As Nvidia
“Recommended Stocks in technology such as Nvidia were up 6.9 percent. Zoom was up about 4.3 percent and Tesla was up almost 4.7 percent. Chewy shares rose 24 percent after reporting an encouraging quarterly performance,” said research analyst at BNI Sekuritas Maxi Leisyaputra.
In addition, European markets strengthened amid investors’ observations of Eurozone inflation which reached 8.1 percent YoY in May 2022. Investors are also watching for signs the European Central Bank to increase interest rates.
Meanwhile, the Asia Pacific stock market closed lower in yesterday’s trading. Hang Seng and Kospi recorded significant weakness while the JCI was corrected very slightly.
The Asia Pacific Stock Market
“This correction often occurs in line with a significant weakening of oil prices. This decline in oil prices is due to Saudi Arabia’s statement that it is ready to supply more oil if supply from Russia decreases,” explained Maxi.
Investors can pay close attention to the shares of PT GoTo Gojek Tokopedia Tbk (GOTO) which are Recommended Stocks to buy in the 338-344 range target of 362/362 stop loss below 318/300. In trading yesterday, GOTO closed up 13.16 percent.
Buy recommendation was also attached to PT Timah Tbk (TINS) shares. BNI Sekuritas recommends buying in the range 1,950-1,985 with a target of 2,040/ 2,070 and stop loss below 1,840.
Shares of PT Indofood CBP Sukses Makmur Tbk (ICBP), recommended to buy in the range of 8,450-8,500 with a target of 8,750/8,800 and stop loss below 8,200 and PT Sarana Menara Nusantara Tbk (TOWR) shares received a buy recommendation at a price of 970-975 with a target of 1.005/1.010 and a stop loss below 930.