Thursday JCI Is Predicted To Be Corrected Slightly
JAKARTA - The movement of the Composite Stock Price Index (JCI) is predicted to be corrected on Thursday, July 28, after yesterday the JCI closed up 0.39 percent at 6,898.21.
Throughout yesterday's trading, the JCI moved in the range of 6,861 - 6,911. Artha Sekuritas analyst Dennies Christopher Jordan explained, JCI closed higher with a limited range overshadowed by investors who tend to be conservative ahead of the Fed's interest rate policy in the middle of this week.
Dennis predicts the JCI will weaken again tomorrow. Technically, the movement was halted at the MA50 area with the stochastic on the overbought area so there is potential for a correction in the short term.
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"On the other hand, investors will pay close attention to the results of the Fed's interest rate policy and the impact on the economy going forward," said Dennies in his research.
Furthermore, Dennies estimates that the JCI will move at support levels of 6,840 and 6,869 and resistance at 6,919 and 6,940. The stocks that Dennies recommends for trading today are PT Wijaya Karya Tbk (WIKA), PT Media Nusantara Citra Tbk (MNCN), and PT Sarana Menara Nusantara Tbk (TWOR).