i & Prediction of Coal Prices Rising Again, Time to Take Profit? Now coal stocks are waiting for their turn even though the commodity price rose 14.33 percent on Wednesday (11/3/2021) yesterday.
Share: Lorenzo Anugrah Mahardhika - Bisnis.com 04 November 2021 - 07:18 WIB conveyor belt facility in one of Australia's coal mines - Bloomberg A+ A- Bisnis.com, JAKARTA – The temporary increase in coal prices can be an opportunity for investors to earn profits as much as possible.
The Composite Stock Price Index (JCI) is predicted to weaken in line with the clarity of the Fed's tapering plan. Director of MNC Asset Management Edwin Sebayang said, after pharmaceutical and digital stocks fell, coal stocks are now waiting for their turn even though the commodity price rose 14.33 percent on Wednesday (11/3/2021) yesterday.
"This increase occurred after the previous 15 trading days fell sharply around 58.87 percent," he explained.
Edwin said investors should take advantage of the temporary bounce back momentum for coal prices to get the maximum profit. This can be done by short-term trading of coal stocks or day trading.
On the other hand, Edwin sees the JCI movement today will tend to weaken.
This is in the midst of the strengthening of the DJIA index by 0.29 percent, EIDO 0.69 percent and the increase in CPO prices by 1.81 percent and tin by 1.01 percent. On the other hand, negative sentiment came from oil, gold and nickel commodities which fell on the second day by 4.54 percent, 1.08 percent and 2.21 percent, respectively.
One of the reasons for the decline was the Fed's statement that it would start tapering off US$15 billion this November. "JCI will move in the range of 6,496 - 6,590," explained Edwin.
Some of the stocks that Edwin recommended today include PRDA, LPPF, ADHI, SMGR, SMRA, LSIP, BSDE, AALI, CTRA, WIKA, and BUKA.




























