Moves Above the Bullish Trendline, Watch JCI Projections on Monday (14/3) Trading

Reporter: Akhmad Suryahadi | Editor: Novice Laoli

KONTAN.CO.ID – JAKARTA. Composite Stock Price Index (IHSG) is expected to strengthen in trading Monday (14/3).

Phillip Sekuritas Indonesia analyst, Joshua Marcius, said the projected JCI strengthening was due to the JCI which was still moving above trendline bullishher dan stochastic pointing upwards in its neutral area.

He said that the sentiment that could affect the JCI movement next week was the release of Indonesia’s Trade Balance data for February 2022. In addition, there was also the release of China’s retail sales data and data Industrial Production in the land of the bamboo curtain.

“JCI is projected to move higher up to the resistance 6,974 with support which can be considered in the area of ​​6,814, “said Joshua, Sunday (13/3).

Also Read: JCI Predicted Tomorrow Continues Correction, Check out PTPP, MNCN, and CTRA Stock Recommendations

For trading Monday (14/3), interesting stocks to watch include PT Wijaya Karya Beton Tbk (WTON), PT Sido Muncul Pharmaceutical and Herbal Industry Tbk (BEEN).

PT United Tractors Tbk (UNTR), PT PT Bank Pembangunan Daerah Jawa Barat & Banten Tbk (BJBR), PT Adhi Karya Tbk (ADHI), and PT Cisadane Sawit Raya Tbk (CSRA).

Meanwhile, Phintraco Sekuritas analyst Valdy Kurniawan assesses that the JCI has the potential to re-test its resistance at 6,930, before continuing its strengthening to 6,950-6,965 on Monday (14/3). Market participants are expected to focus on stocks related to commodities and construction at the beginning of the week.

Market participants tend to take advantage of opportunities technical rebound in commodity stocks.

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