The JCI On Thursday Is Predicted To Weaken, Investors Are Worried That The Omicron Variant Of COVID-19 Will Disrupt The Economy

Illustration. (Photo: Doc. Antara)

JAKARTA - The movement of the Composite Stock Price Index (JCI) in today's trading, Thursday, December 2, is expected to continue its weakening after yesterday ending in the red zone by falling 0.40 percent or 26.26 points and parking at the level of 6.507.68.

Artha Sekuritas analyst Dennies Christopher Jordan said that the JCI closed lower yesterday in a short-term bearish trend following the weakening trend in commodity prices. In addition, according to him, the current weakening of the stock market related to the spread of the COVID-19 variant of the Omicron is feared to slow down the economy again.

As for today's trading, Dennis predicts the JCI will weaken. He explained that technically the MACD indicator was moving in the distribution trend and the stochastic was down to the oversold area indicating a weakening trend.

"The decline in the JCI is starting to be limited. Investors will be watching developments related to the COVID-19 omicron and its impact on economic activity and waiting for the Fed's policy to anticipate the potential for higher inflation," said Dennies.

Artha Sekuritas estimates that JCI will move with support at 6.469 and 6.432 and resistance at 6.568 and 6.630. And the stocks that can be observed according to Dennies, are PT Prudelta Lestari Tbk (DMAS), PT Mitra Keluarga Karyasehat Tbk (MIKA), and PT Sarana Menara Nusantara Tbk (TOWR).