JCI On Tuesday Is Predicted To Be Weakened, Analysts Recommend Shares Of Puradelta, Mitra Keluarga, And Semen Indonesia

JAKARTA - The movement of the Composite Stock Price Index (JCI) is projected to weaken in today's trading, Tuesday, December 7 after yesterday in positive territory with an appreciation of 0.13 percent or 8.61 points so that it parked at the level of 6.547.12.

Artha Sekuritas analyst Dennies Christopher Jordan said the JCI movement yesterday was influenced by concerns and uncertainty due to the spread of the new variant of the COVID-19 omicron. Meanwhile, US stocks closed lower at the end of last week, where the Dow Jones index closed down 0.17 percent, the Nasdaq closed down 1.92 percent, the S & P 500 closed down 0.84 percent.

According to Dennies, the index's decline was due to investors betting that a strong jobs report would not slow the Federal Reserve's withdrawal of support as they grapple with uncertainty around the Omicron coronavirus variant.

In addition, Fed Chair Jerome Powell said that the central bank would consider an earlier termination of its bond-buying program. According to him, this encourages speculation that an interest rate hike will also be proposed.

"This is what investors are worried about, so there is a sell-off in the stock market," said Dennies in his research.

As for today, Dennis predicts the JCI will weaken. He explained that technically the candlestick formed a lower high and a lower low indicating potential weakness.

"The movement is still overshadowed by concerns over the spread of the COVID-19 Omicron and the impact of the Fed's policy of aggressively raising interest rates. Investors will pay close attention to several economic data releases," said Dennies.

For today's trading, Artha Sekuritas estimates JCI will move with support at 6.519 and 6.492 and resistance at 6.579 and 6.612. The stocks that can be observed include PT Prudelta Lestari Tbk (DMAS), PT Mitra Keluarga Karya Sehat Tbk (MIKA), and PT Semen Indonesia Tbk (SMGR).