JCI Thursday Expected To Continue Weakening, These Are The Stocks To Choose
JAKARTA - The movement of the Composite Stock Price Index (JCI) is expected to continue its weakening in today's trading, Thursday, September 15, after yesterday's closing at 7,278.07 or down 0.54 percent.
Previously, the JCI reached a record closing high of 7,318 on Tuesday, September 13. Artha Sekuritas analyst Dennies Christopher Jordan said the JCI closed lower yesterday after the release of US economic data that was worse than expected.
"This has prompted concerns that the Fed will still be aggressive in raising interest rates, especially at the end of September," said Dennies in his research.
Dennis predicts that the JCI will weaken. Technically, the candlestick formed a lower high and a lower low with the stochastic forming a deadcross in the overbought area indicating potential weakness.
According to him, the JCI movement will still be driven by investor concerns with the expectation that the Fed will still be aggressive in raising interest rates.
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"Domestic investors will pay close attention to the release of trade balance data," he said.
Meanwhile, JCI support tomorrow is expected to be in the range of 7,181 to 7,229. Meanwhile, the JCI resistance is at the level of 7,315 to 7,353.
The stocks chosen by Artha Sekuritas include PT Wismilak Internasional Makmur Tbk (WIIM), PT Ramayana Lestari Sentosa Tbk (RALS), and PT Paper Factory Tjiwi Kimia Tbk (TKIM).