JCI Tuesday Expected To Continue Weakening, These 3 Stocks Are Recommended
JAKARTA - The movement of the Composite Stock Price Index (IHSG) is predicted to continue its weakening in today's trading, Tuesday, March 8, after yesterday's closing at 6,869.06 or down 0.85 percent.
Artha Sekuritas analyst Dennies Christopher Jordan said the JCI closed lower due to concerns about the impact of the Russia-Ukraine war. Rising commodity prices supported the movement but raised concerns about higher inflation.
"HSG is predicted to weaken. Technically the candlestick forms a lower high and a lower low with a fairly high volume," said Dennies in his research.
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The increase in commodity prices will continue to encourage strengthening, especially for shares in the energy sector. On the other hand, it has the potential to push inflation higher and increase interest rates more aggressively.
Furthermore, Dennies estimates that the JCI will move at support levels of 6,802 and 6,835 as well as resistance at 6,909 and 6,950 in today's trading.
The stocks that are recommended by Artha Sekuritas for trading today are PT Sawit Sumbermas Sarana Tbk (SSMS), PT Adaro Energy Tbk (ADRO), PT Medco Energi International Tbk (MEDC).