KONTAN.CO.ID - JAKARTA. The Jakarta Composite Index (IHSG) closed 0.13% lower at 7,349.021 on Thursday, February 22, as investors took profits after the recent rally.

The index had gained more than 5% in the previous two weeks, hitting a record high of 7,456.77 on February 17.

William Hartanto, a market observer and founder of WH-Project, said the IHSG is likely to move in a range of 7,275-7,396 on Friday.

"Technically, the IHSG is still moving with a bullish candlestick above the MA5 indicator and is still above the 7,300 support level," he said.

"However, the MACD indicator is sloping down, indicating that the IHSG is entering an overbought phase."

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Hartanto said there were no new sentiments to watch at this time.

However, he advised investors to make sure that neither the IHSG nor their chosen stocks break the trend, as the IHSG may look like a healthy correction, but there are also quite a number of stocks that are distributed.

The following are stocks that are technically interesting to watch on Friday, February 23:

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Bank Mandiri (Persero) Tbk (BMRI)

• Analysis: Limited weakness with potential to close the gap at 6,950.
• Recommendation: Sell on strength
• Support: Rp 6,950
• Resistance: Rp 7,375

Bank Central Asia Tbk (BBCA)

• Analysis: Limited weakness with potential to close the gap at 9,800.
• Recommendation: Sell on strength
• Support: Rp 9,800
• Resistance: Rp 10,025

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PT Jasa Marga (Persero) Tbk (JSMR)

• Analysis: Completion of demand zone formation in the area of 4,720 - 4,850.
• Recommendation: Buy
• Support: Rp 4,720
• Resistance: Rp 5,200

PT Bekasi Fajar Industrial Estate Tbk (BEST)

• Analysis: Formation of a double bottom pattern with neckline at 145.
• Recommendation: Buy
• Support: Rp 135
• Resistance: Rp 145

Editor: Hasbi Maulana