Market participants can take advantage of momentum to buy on weakness of some stocks.
"The index is currently in a downtrend position and is below the 50 MA," said Semesta Indovest Sekuritas analyst Aditya Perdana Putra. This indicates a bearish consolidation movement on JCI.
Aditya predicts, in March, the bottom level of the index could be in the range of 6,250-6,260. This momentum, according to Aditya, can be used by investors to enter into several sectors in the stock market. "There are some stocks that drop pretty much below the fair price," he explained.
According to Aditya, two stocks that are eligible to be bought at a low price, aka buy on weakness are PT Astra International Tbk (ASII) and PT Bumi Serpong Damai TBk (BSDE).
ASII can be purchased at the level of Rp 7775 with the target price of the nearest Rp 8.000 level. BSDE can be purchased at the price of Rp 1,750-Rp 1,770 with the target of the nearest price between Rp 1,800-Rp 1,850.
He also recommends hold bebebapa stocks whose stock prices are still potentially rising, such as BBRI, BBCA, BMRI, ADHI, WSKT and PTPP.