JCI Projected To Strengthen Monday, These 3 Stocks Can Be Played

Illustration. (Photo: Doc. Antara)

JAKARTA - The movement of the Composite Stock Price Index (JCI) is predicted to strengthen in today's trading Monday, January 17, after last weekend's gain of 0.52 percent at the level of 6,693.4.

Artha Sekuritas analyst Dennies Christopher Jordan explained that the JCI last week closed slightly higher in line with bargain hunting by investors who ignored concerns about the Fed's interest rate hike, which is planned to rise in March 2022.

"Fluctuations in commodity prices do not really affect the movement," said Dennies in his research.

Dennis predicts the JCI will strengthen on Monday. Technically, the candlestick formed a long white body after the rebound was strongly supported by the 50 MA and indicates that there is still potential for strengthening in the short term. Fears of a Fed rate hike have eased.

At the beginning of the week, investors will pay close attention to China's economic data and Indonesia's trade balance. Furthermore, Dennies estimates that the JCI will move at support levels of 6,604 and 6,648 and resistance at 6,713 and 6,734.

The stocks that Dennies recommends for today's trading are as follows: PT Japfa Comfeed Tbk (JPFA), PT Wijaya Karya Tbk (WIKA), and PT Waskita Karya Tbk (WSKT).