JCI Predicted To Strengthen Monday, Investors Still Watching The Fed's Policy

Illustration. (Photo: Doc. Antara)

JAKARTA - The movement of the Composite Stock Price Index (JCI) is predicted to strengthen in early trading on Monday, December 13 after last weekend's lift into positive territory by strengthening 0.14 percent or 8.99 points so that it parked at the level of 6,652.92.

Artha Sekuritas analyst, Dennies Christopher Jordan said in trading last Friday, the JCI closed higher after fluctuating in the early trading session. According to him, the movement was overshadowed by profit-taking and the weakening of global stock markets, where foreign investors recorded net sales of Rp.721.39 billion.

As for today's trading, Dennis predicts the JCI will strengthen. He explained that technically the candlestick formed a higher high and a higher low accompanied by the stochastic indicator which moved wide after forming a golden cross indicating potential strengthening.

"Investors will continue to monitor the Fed's policies to maintain inflation and interest rates. Domestic sentiment will be minimal from economic data," Dennies wrote in his daily research.

Artha Sekuritas estimates JCI will move with support at 6,620 and 6,589 and resistance at 6,667 and 6,683. The recommended stocks include PT Ciputra Development Tbk (CTRA), PT Mitra Keluarga Karya Sehat Tbk (MIKA), and PT Semen Indonesia Tbk (SMGR).