JAKARTA - The movement of the Composite Stock Price Index (JCI) is predicted to strengthen in today's trading, Wednesday, November 17 after yesterday in the green zone, aka a slight increase of 0.53 percent at the level of 6.651.2.
Artha Sekuritas analyst Dennies Christopher Jordan explained that yesterday's strengthening of the JCI was in response to the decline for two consecutive days.
"Investors are more daring to do bargain hunting because in the short term the weakening enters the oversold phase," said Dennies in his research.
Dennies predicts that the JCI will strengthen today at support levels of 6.570 and 6.610 and resistance at 6.672 and 6.694.
"Investors will continue to monitor US inflation and tapering plans. Investors will also tend to be more conservative ahead of the interest rate-setting by Bank Indonesia," said Dennies.
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Furthermore, according to Dennies, today's JCI movement is still supported by the release of issuers' performance in the third quarter of 2021.
Meanwhile, the stocks that Dennies recommends for trading today are as follows: PT Wijaya Karya Tbk (WIKA), PT HM Sampoerna Tbk (HMSP), and PT Bumi Serpong Damai Tbk (BSDE).
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