ILLUSTRATION. Employees pass near a screen showing stock movements at the Indonesia Stock Exchange, Jakarta, Friday (8/10/2021). Already up 0.38%, JCI is predicted to continue strengthening tomorrow Tuesday (19/10). BETWEEN PHOTOS/Hafidz Mubarak A/aww.
Reporter: Kenia Intan | Editor: Tendi Mahadi
KONTAN.CO.ID – JAKARTA. Composite Stock Price Index (IHSG) closed in the green zone in today’s trading Monday (18/10). JCI rose 0.38% or 25,430 points to 6,658,768.
Along with the strengthening of the JCI, the majority of sectors in the stock exchange strengthened today. The most significant increase was felt by the transportation and logistics sector of up to 1.80%. There was also the industrial sector which rose 1.45%. On the other hand, the raw materials sector gained 1.25%.
Artha Sekuritas Indonesia analyst Dennies Christopher Jordan observed that the JCI closed slightly higher today. This increase was driven by optimism for the simultaneous strengthening of global stock markets. The movement is quite limited because investors tend to secure profits ahead of the holiday in the middle of this week.
For trading tomorrow Tuesday (19/10), Dennis predicts stock price movements will continue to strengthen. The JCI will move with the level of support 6,624 to 6,590. While level resistanceits at 6,688 to 6,718.
Also Read: JCI strengthened to 6,658 on Monday (18/10), many foreigners bought BBRI, BMRI, TOWR
“It’s technically a trend bullish still strong enough candlestick shape higher high and higher low test resistance all-time high,” he explained in a research received by Kontan.co.id, Monday (18/10).
Dennies further explained, the range of strengthening will be limited ahead of the holiday in the middle of the week. Investors will also tend to wait and see waiting for the 7 Days Repo Rate decision from Bank Indonesia.
Similarly, the CEO of PT Indosurya Bersinar Sekuritas William Surya Wijaya explained that the JCI movement is still trying to print all time high all the time.
Meanwhile, the release of economic data on interest rates, which are not likely to change, will also provide sentiment for the JCI movement tomorrow.
Also Read: JCI soars, the performance of equity mutual funds also improves
“However, the risk of potential short-term corrections still needs to be watched out for considering that commodity prices have the potential to be corrected,” he explained in research received by Kontan.co.id, Monday (18/10).
On Tuesday (19/10), William projected that the JCI has the potential to move higher within the range of 6,472 to 6,691. Some of the stocks that he observed were BBNI, ICBP, ASII, TLKM, GGRM, BBRI, SMGR, and ASRI.
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