The JCI Is Projected To Strengthen For The Weekend, See Today's Stock Recommendations

Illustration. (Photo: Unsplash)

JAKARTA - The movement of the Composite Stock Price Index (JCI) is projected to be limited in today's trading Friday, January 21 after yesterday closing trading in positive territory by rising 0.53 percent or 34.89 points so that it parked at the level of 6.626.87.

Artha Sekuritas analyst Dennies Christopher Jordan said that the JCI in yesterday's trading closed higher after setting interest rates fixed at the level of 3.50 percent. He also said that the increase in commodity prices also contributed to the strengthening so that the movement was dominated by stocks from the energy sector.

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

"Movement will be minimal in sentiment from economic data. Movement is expected to be limited due to concerns about an increase in domestic COVID-19 cases," said Dennies in his research.

Artha Sekuritas estimates that JCI will move with support at 6.596 and 6.566 and resistance at 6.646 and 6.666. As for a number of stocks that can be observed, said Dennies, including PT Pakuwon Jati Tbk (PWON), PT Wijaya Karya Gedung Tbk (WEGE), and PT Media Nusantara Citra Tbk (MNCN).