JCI Today Is Predicted Weakening, 'Haunted' By Profit Taking Action

Illustration. (Photo: Doc. Antara)

JAKARTA - The movement of the Composite Stock Price Index (JCI) is predicted to weaken again in today's trading, Monday, March 28 after last weekend parked at 7,002.53 or down 0.66 percent.

Artha Sekuritas analyst Dennies Christopher Jordan in his report explained that the JCI last week closed lower due to profit-taking.

"Global sentiment is supported by Western leaders who have agreed to increase aid for Ukraine. Domestically, the distribution of dividends is colored," he explained in the research.

Dennis predicts the JCI will weaken again today. JCI technically the candlestick formed a dark cloud cover formation indicating a potential weakness.

However, the weakening is expected to be temporary as the market is driven by optimism from the sizeable dividend distribution by several issuers. From global investors will still be watching the development of the conflict between Russia and Ukraine.

Furthermore, Dennies estimates that the JCI will move at support levels of 6,934 and 6,968 as well as resistance at 7,045 and 7,088. Some of the stocks that Dennies recommends for trading today are PT PP Tbk (PTPP), PT Erajaya Swasembada Citra Tbk (ERAA), PT Ciputra Development Tbk (CTRA).