The JCI Will Continue To Strengthen Today, Check Out The Stock Recommendations From Artha Sekuritas

Illustration. (Photo: Doc. Antara)

JAKARTA - The Composite Stock Price Index (JCI) is predicted to strengthen again in today's trading, Tuesday, March 22 after parking at 6.955.18 yesterday, or up 0.21 points.

JCI yesterday had recorded the highest position at the level of 6.974.15. Noted, 232 stocks rose, 284 stocks weakened and 170 stocks moved in place. Foreign investors recorded a net foreign sell of IDR 566.6 billion in all markets.

Artha Sekuritas analyst Dennies Christopher Jordan in his report explained that the JCI closed slightly higher than the previous day. Movements from within the country lacked sentiment, although from the global one was driven by optimism after US President Joe Biden spoke with Chinese President Xi Jinping about attitudes towards the Russia-Ukraine war.

Dennis predicts JCI will strengthen again today. Technically, the candlestick forming a doki indicates the trend will be limited, the stochastic is starting to narrow, indicating the weakening trend is very limited so there is potential for a rebound in the short term.

"Investors will pay close attention to the developments of the Russia-Ukraine war, while domestically it is marked by the distribution of dividends by several issuers," said Dennies in his research.

Dennies estimates that the JCI will move at support levels of 6.907 and 6.931 and resistance at 6.976 and 6.997. The stocks that Dennies recommends for trading today are PT Astra International Tbk (ASII), PT Erajaya Swasembada Citra Tbk (ERAA), PT Ciputra Development Tbk (CTRA).