JAKARTA - The movement of the Composite Stock Price Index (JCI) today, Thursday, November 4, is projected to fluctuate after closing higher by 58.85 points or 0.91 percent to the level of 6,552.13.
Phintraco Sekuritas analyst Valdy Kurniawan said, technically, the JCI rebound yesterday opened up opportunities for the formation of a bullish harami pattern as a minor bullish reversal signal. This pattern is supported by the narrowing of the slope of the MACD.
"JCI support will be at the level of 6,520 and resistance at the level of 6,630," he said in his research.
However, the movement of the JCI is still overshadowed by the continuing trend of the weakening of the rupiah exchange rate. The rupiah exchange rate weakened again and closed at Rp14,313 per US dollar in today's trading.
The announcement of the results of the Federal Reserve meeting and the speech of The Fed Chair Jerome Powell on Thursday morning has the potential to put pressure on the rupiah exchange rate again. This has the potential to hold back the JCI rebound in tomorrow's trading.
According to him, the stocks that can be observed in today's trading are PT Bank Rakyat Indonesia Tbk (BBRI), PT Bank Mandiri Tbk (BMRI), PT Bank Tabungan Negara Tbk (BBTN), PT Perusahaan Gas Negara Tbk (PGAS), PT Telkom. Indonesia Tbk (TLKM), PT Astra International Tbk (ASII), and PT XL Axiata Tbk (EXCL).
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