JCI Wednesday Expected To Continue Strengthening, Positive Sentiment Of Issuers' Financial Statements Still Continues

Illustration. (Photo: Doc. Antara)

JAKARTA - The movement of the Composite Stock Price Index (JCI) on Wednesday, November 10, is expected to strengthen after yesterday's closing higher by 37.62 points or 0.57 percent to 6,669.92.

Artha Sekuritas analyst, Dennies Christopher Jordan said, JCI will strengthen with resistance 2 at the level of 6,693, resistance 1 at the level of 6,681, support 1 at the level of 6,645, and support 2 at the level of 6,621.

"The strengthening is still supported by the performance of issuers in the third quarter of 2021 which is quite good. The strengthening is also supported by the ratification of the infrastructure spending bill from the United States," he explained in the research.

Technically, continued Dennies, the candlestick formed a higher high and a higher low with high volume and the stochastic indicator widened after forming a golden cross indicating potential strengthening and will test the all-time high resistance.

"The release of issuers' performance as of the third quarter of 2021 will still cover the JCI movement," he said.

According to Dennies, there are several stocks that can be observed in today's trading, including PT Wijaya Karya Tbk (WIKA), PT PP London Sumatra Indonesia Tbk (LSIP), and PT Bumi Serpong Damai Tbk (BSDE).