JCI Thursday Is Projected To Weaken Slightly

Illustration. (Photo: Doc. Antara)

JAKARTA - The movement of the Composite Stock Price Index (JCI) today, Thursday, December 9, is projected to weaken after yesterday's slight gain of 1.22 points or 0.02 percent to 6,603.79.

Binaartha Sekuritas analyst Ivan Rosanova assessed that the JCI movement yesterday was still relatively low in positive sentiment so that it closed only slightly higher than the previous day.

"The easing of concerns about the Omicron variant has allegedly made the JCI still remain in the green zone," Ivan said in his research.

Ivan sees the JCI potentially experiencing a limited correction with the support that can be watched at 6,580 and 6,557 for today's trading.

"As long as it doesn't fall below 6,526, the JCI bullish momentum should still be maintained," he said.

Ivan added that the closing of the European and American markets is expected to have an influence on the confidence level of investors to take positions in trading this Thursday.

Thus, Ivan recommends market participants to buy on weakness only on index-moving stocks such as PT Bank Central Asia Tbk (BBCA), PT Bank Rakyat Indonesia Tbk (BBRI), PT Telkom Indonesia Tbk (TLKM), and PT Astra International Tbk (ASII).