JAKARTA - The movement of the Composite Stock Price Index (JCI) is projected to weaken in today's trading, Friday, November 26 after yesterday in the green zone by rising 0.24 percent or 16.07 points and parking at the level of 6.699.35.
Artha Sekuritas analyst Dennies Christopher Jordan said that the JCI closed higher yesterday after testing its all-time high resistance.
According to him, the movement was driven by optimism ahead of the year-end window dressing. But on the other hand, concerns from the US economic data are still looming.
As for today's trading, Dennis predicts the JCI will weaken. He explained that technically the JCI is still in a short-term consolidation trend with a tendency to weaken.
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"The JCI is also supported by a widening stochastic after forming a dead cross around the overbought area after failing to break the all-time high resistance. The movement at the weekend will have minimal sentiment, especially from economic data," said Dennies in his daily research.
Furthermore, Dennies said, JCI will move with support at 6.678 and 6.657 and resistance at 6.735 and 6.771.
According to Dennies, a number of stocks that can be observed are PT Wijaya Karya Tbk (WIKA), PT Alam Sutera Realty Tbk (ASRI), and PT Barito Pacific Tbk (BRPT).
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