JCI Tuesday Predicted To Strengthen, Analyst: Due To January Effect

JAKARTA - The movement of the Composite Stock Price Index (JCI) is predicted to strengthen in today's trading, Tuesday, January 4 after last weekend in positive territory by surging 1.27 percent or 83.83 points so that it parked at the level of 6,665.31 at the end of trading Monday 3 January.

Artha Sekuritas analyst Dennies Christopher Jordan said the JCI closed higher on the first trading day of 2022 driven by the optimism of the January effect which pushed up stock prices. Meanwhile, he assessed that the release of inflation and manufacturing data from within the country was quite good.

As for today's trading, Dennis predicts the JCI will strengthen. He explained that technically the candlestick formed a long white body accompanied by a widening stochastic after forming a golden cross indicating potential strengthening.

"The movement will be minimal in sentiment from economic data. Investors are still optimistic that the stock market will be driven by the January effect," Dennies wrote in his daily research, Monday, January 3.

For trading on January 4, Artha Sekuritas estimates JCI will move with support at 6,608 and 6,551 and resistance at 6,699 and 6,733.

The following are a number of stocks that can be observed according to Artha Sekuritas, including PT Adaro Energy Tbk (ADRO). PT Aneka Tambang Tbk (ANTM), and PT Sarana Menara Nusantara Tbk (TOWR).