JCI Predicted to Continue Strengthening on Monday (17/1), Big Cap Stocks Potentially Become Mover

Reporter: Nur Qolbi | Editor: Novice Laoli

KONTAN.CO.ID – JAKARTA. Composite Stock Price Index (IHSG) is predicted to continue strengthening on Monday (17/1). In the last trading last week, Friday (14/1), JCI closed up 0.53% to 6,693.40.

Phintraco Sekuritas analyst Valdy Kurniawan sees the JCI has the potential to test resistance 6,720-6,750 with support 6,650 tomorrow.

Stochastic RSI and MACD have a chance to form golden cross as signal validation bullish if the JCI returns above 6,700.

Market participants can observe the potential for continued selective buying of foreign investors in stocks with large market caps, such as ARTO, BBCA, UNTR, and PTBA. Market participants can also pay attention to the potential rebound on UNVR and ADRO.

According to Valdy, stocks with large market capitalization, aka big cap, have the potential to become mover JCI in trading Monday (17/1).

Also Read: Foreigners Record Net Buys of IDR 2.57 Trillion a Week, These Big Cap Stocks Are Widely Collected

This is in line with the increase in uncertainty risk due to the projected increase in daily Covid-19 cases in Indonesia in mid-February 2021 and the Fed being more aggressive in normalizing monetary policy in 2022.

“Foreign investors have the potential to rotate their holdings of shares” high-growth to stocks bluechip with solid fundamentals or with the potential to record a significant increase in financial performance in 2021,” said Valdy when contacted by Kontan.co.id, Friday (14/1).

From within the country, the Central Statistics Agency (BPS) is scheduled to release export and import data in December 2021. Indonesia’s trade balance surplus (BOP) is expected to continue in December 2021, which has the potential to provide positive sentiment for bank and energy stocks.

Also Read: JCI corrected 0.12% to 6,693 in a week, this is the most foreign-released stock