The JCI Predicted To Strengthen Monday, These 3 Stocks Are Recommended

Illustration. (Photo: Doc. Antara)

JAKARTA - The movement of the Composite Stock Price Index (JCI) is predicted to strengthen on Monday, January 10 after last weekend's rise of 0.72 percent at the level of 6.701.31.

Artha Sekuritas analyst Dennies Christopher Jordan said the JCI last week closed higher after weakening two days earlier. According to him, the strengthening was driven by the increase in commodity prices, especially coal and palm oil amid export restrictions.

"The results of the Fed meeting which will aggressively raise interest rates are still looming," said Dennies in his research.

Dennis predicts JCI will strengthen today. Technically, the candlestick forms a higher high and a higher low indicating the potential for short-term strengthening which is still driven by rising commodity prices.

However, he said the JCI movement was still overshadowed by the Fed's plan to raise interest rates more quickly so that investment instruments with lower risk would be more attractive.

Dennies estimates that the JCI will move at support levels of 6.621 and 6.661 and resistance at 6.721 and 6.751. The stocks that Dennies recommends for trading tomorrow are PT Japfa Comfeed Tbk (JPFA), PT Wijaya Karya Tbk (WIKA), PT Sarana Menara Nusantara Tbk (TOWR).