The JCI Predicted Weakening Today, Investors Watch The Fed's Policy Developments
JAKARTA - The movement of the Composite Stock Price Index (JCI) is predicted to weaken in today's trading, Tuesday, April 12, after yesterday it fell 0.10 percent or 7.04 points so that it parked at the level of 7.203.79.
Artha Sekuritas analyst Dennies Christopher Jordan said that the JCI closed lower in yesterday's trading after reaching its highest level. According to Dennis, the movement was driven by profit-taking.
On the other hand, the JCI movement was also supported by the release of issuers' performance and dividend distribution. As for today's trading, Dennis predicts the JCI will weaken.
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"Technically, the JCI candlestick formed a doji with the stochastic forming a dead cross indicating potential weakness. The movement will still be supported by issuers' performance releases and dividend distribution. On the other hand, investors will pay close attention to developments in the Fed's economic policy," said Dennies in his research.
For today's trading, Artha Sekuritas estimates JCI will move with support at 7.146 and 7.089 and resistance at 7.307 and 7.411. The stocks that can be observed today include PT Indika Energy Tbk (INDY), PT Matahari Putra Prima Tbk (MPPA), and PT Pakuwon Jati Tbk (PWON).