JCI Projected To Strengthen Monday, Analyst: Investors Ignore US Tapering Concerns, More Concerned About Bank Of China Policy

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JAKARTA - The movement of the Composite Stock Price Index (JCI) is predicted to strengthen in trading earlier this week, Monday, November 22, after last weekend's surge of 1.26 percent or 83.79 points to touch an all-time high of 6,720.26.

Artha Sekuritas analyst Dennies Christopher Jordan revealed that the JCI closed higher even though previously global stock markets had weakened.

According to him, investors are now starting to ignore concerns about US inflation and tend to be more optimistic about window dressing towards the end of the year.

As for today's trading, Dennis predicts the JCI will continue strengthening. He explained that technically the JCI managed to close at a record high with a fairly high volume driven by optimism for window dressing.

"Currently investors tend to ignore concerns about inflation and tapering from the United States. At the beginning of the week investors will pay close attention to the Bank of China's interest rate policy," said Dennies in his research.

For today's trading, Artha Sekuritas estimates JCI will move with support at 6,674 and 6,628 and resistance at 6,743 and 6,766.