JCI Wednesday Projected Still 'Muscle' Towards The 6,700

Illustration. (Photo: Doc. Antara)

JAKARTA - The movement of the Composite Stock Price Index (JCI) is projected to strengthen in today's trading, Wednesday, January 5 after yesterday closing trading in positive territory due to an increase of 0.45 percent or 30.66 points so that it parked at the level of 6,695.37.

Artha Sekuritas analyst Dennies Christopher Jordan said the JCI yesterday strengthened in line with strengthening global stock markets and rising commodity prices as well as easing fears of COVID-19 in the US and Europe.

In addition, Dennis said that the newly released manufacturing data was slightly above expectations. So, he continued, in today's trading the JCI will end up strengthening.

"Technically, the candlestick formed a higher high and a higher low accompanied by an increase in volume, indicating the strengthening trend will continue," said Dennies in his daily research.

Furthermore, Dennies said, the strengthening of the JCI will be encouraged to start easing concerns about the COVID-19 Omicron. On the other hand, domestic economic data still seems to have little influence on the JCI movement.

For today's trading, Artha Sekuritas estimates JCI will move with support at 6,673 and 6,651 and resistance at 6,718 and 6,741. And some recommended stocks, including PT Adaro Energy Tbk (ADRO), PT Aneka Tambang Tbk (ANTM), and PT Sarana Menara Nusantara Tbk (TOWR).