The JCI On Thursday Will Weaken Slightly, These Are Stock Recommendation From Analyst

Illustration. (Photo: Doc. Antara)

JAKARTA - The movement of the Composite Stock Price Index (JCI) is projected to continue its weakening in today's trading, Thursday, January 20 after yesterday closing trading in the red zone with a correction of 0.33 percent or 22.08 points so that it parked at the level of 6.591.98.

Artha Sekuritas analyst Dennies Christopher Jordan said that the JCI closed lower in yesterday's trading following the weakening of global stock markets due to a fairly high increase in US treasury yields to the level of 1.88 percent.

In addition, said Dennies, domestic investors are also watching the increase in COVID-19 cases. As for today's trading, Dennies predicts JCI will continue its weakening rally.

"Technically, the JCI candlestick formed a three black crowd formation with a fairly high volume and a wide stochastic after forming a deadcross, indicating that the potential for weakness is still quite large," said Dennies in his research.

Investors, he continued, will pay close attention to the results of China and Bank Indonesia's interest rate policies which will be released soon.

Dennies estimates that JCI will move with support at 6.572 and 6.553 and resistance at 6.612 and 6.633. The stocks that he recommends include PT Pakuwon Jati Tbk (PWON), PT Wijaya Karya Gedung Tbk (WEGE), PT Media Nusantara Citra Tbk (MNCN).