JCI Today Will Stay At 7,000?

Illustration. (Photo: Doc. Antara)

JAKARTA - The movement of the Composite Stock Price Index (JCI) is predicted to continue its strengthening in today's trading, Friday, March 25 after yesterday being able to park at 7,049.68 or up 0.77 percent.

JCI has again managed to record the highest closing record in the history of the Indonesia Stock Exchange (IDX). Previously, the JCI reached its highest closing level of 7,000.82 last Tuesday, March 22, 2022.

Artha Sekuritas analyst Dennies Christopher Jordan explained that the JCI closed higher despite the weakening global stock market triggered by the Russian attack on Ukraine and the surge in oil prices which could potentially trigger higher inflation. Dennis predicts JCI will strengthen again today.

JCI technically, the candlestick formed a long white body with quite high volume and a widening stochastic indicating potential strengthening. The gains were driven by optimism after the JCI closed at an all-time high. Domestic sentiment will be boosted by the distribution of dividends by several issuers.

"Meanwhile, global investors will pay close attention to the development of the Russia-Ukraine conflict," Dennies explained in his research.

Furthermore, Dennies estimates that the JCI will move at support levels of 6,953 and 7,001 and resistance at 7,073 and 7,097. The stocks that Dennies recommends for trading today are PT PP Tbk (PTPP), PT Erajaya Swasembada Citra Tbk (ERAA), and PT Ciputra Development Tbk (CTRA).