JCI is predicted to continue weakening, watch the movements of the shares of RALS, BBTN, and BJTM

ILLUSTRATION. JCI is predicted to continue weakening, watch the movements of the shares of RALS, BBTN, and BJTM

Reporter: Kenia Intan | Editor: I knew Laoli

KONTAN.CO.ID – JAKARTA. Composite Stock Price Index (IHSG) closed in the red zone for trading, Friday (5/3). JCI was recorded to have weakened 0.51% or 32.05 points to the level of 6,258.75.

Quoting data from the Indonesia Stock Exchange (IDX), the majority of the sectors on the stock exchange are turning red. The most significant weakness was felt by the raw material sector, which fell 2.02%. After that, the energy sector and infrastructure sector fell 2.01% and 1.58% respectively.

Artha Sekuritas Indonesia analyst, Dennies Christoper Jordan, noted that the JCI closed lower in line with the weakening of global stock markets due to concerns that it would rise again. yield US bonds.

Dennies predicts the JCI will continue to weaken in trading, Monday (8/3). JCI will move with levels support 6,233 to 6,208. While level resistance 6,295 to 6,332.

Also Read: The JCI is predicted to continue its decline on Monday (8/3), pay close attention to these stocks

“Technically indicator stochastic moving wide forming deadcross indicates the potential for weakening will continue, “said Dennies in a research received by Kontan.co.id, Friday (5/3).

Further revealed, the movement of the JCI is still overshadowed by anxiety about the rise yield US bonds. Investors will observe several economic data at the beginning of the week, including foreign exchange reserves and trade balance China.

Amid JCI which is predicted to weaken, Dennies is watching the movements of these stocks:

1. PT Ramayana Lestari Sentosa Tbk (RALS)

The candlestick forms a long white body with high volume and the stochastic forms a goldencross, which has the potential to continue strengthening. Analysts suggest that investors enter the price at Rp. 750 to Rp. 770. The stop loss is at Rp. 730. The target price is Rp. 800 to Rp. 820.

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