JCI Will Run Out of Energy in Session 2, Are You Ready to Crash?

Jakarta, CNBC Indonesia – The Composite Stock Price Index (JCI) in the first trading session on Thursday (14/1/21) closed up 0.17% to the level of 6,445.89. Although it had weakened at around 10:00 WIB, JCI managed to turn towards the green zone at the close of today’s first session.

Trade data noted that foreign investors made net buying of Rp 209.57 billion on the regular market today with today’s transaction value of Rp 16.56 trillion. 183 shares appreciated, 286 shares corrected, the remaining 151 were stagnant.

The mass vaccination in Indonesia officially started last Wednesday, President Joko Widodo (Jokowi) became the first Indonesian citizen to receive a CoronaVac vaccine injection made by a Chinese pharmaceutical company, Sinovac. After Jokowi, several officials were also vaccinated.

Although the process will take quite a long time for vaccinations throughout Indonesia to be completed, hopes for life will gradually return to normal, and the economy can revive.

Meanwhile, externally, the US President, Donald Trump, was impeached by the US House of Representatives (DPR) on Wednesday, a week before resigning from his post.

Trump is said to have incited the mass of his supporters which led to the attack on the Capitol Hill parliament building. This happened on January 6, after a large demonstration by Trump sympathizers in Washington, USA.

This is the second time Trump has been tried to be impeached by the DPR after 2019, and has become the first US president to experience this.

However, the impeachment will not happen because the Republican-controlled US Senate is unlikely to approve it. The US adopts a two-chamber system, so that the impeachment hearing not only gets approval from the DPR but also the Senate and vice versa.

Photo: JCI Technical Analysis 14 January 2021 / Tri Putri
JCI Technical Analysis January 14, 2021 / Tri Putri

Technical Analysis

JCI movement using the hourly period (hourly) of the Boillinger Band (BB) indicator through the upper limit (resistance) and lower limit (support) area method. Currently, JCI is in the upper boundary area with BB widened again, so the next JCI movement tends to be sideways.

To change the bias to bullish or reinforcement, it is necessary to pass the level resistance which is in the area of ​​6,480. Meanwhile, to continue the bearish trend or decline, it is necessary to pass the support level at the 6,424 area.

The Relative Strength Index (RSI) indicator is a momentum indicator that compares the amount of increase and decrease in the latest prices in a period of time and serves to detect overbought conditions above the 70-80 level and oversold below the 30- level. 20.

Currently the RSI is in the 70 area, which indicates an overbought indicator, but if the momentum is strong the RSI can stay in the overbought zone for a long time.

Overall, through a technical approach with the BB indicator in the upper boundary area, the next movement tends to be sideways or sideways.

The index needs to pass (break) one of the resistance or support levels, to see the direction of the next movement.


[Gambas:Video CNBC]



Share on facebook
Share on pinterest
Share on twitter
Share on linkedin
Share on email


Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.