Today's JCI Is Predicted To Continue Strengthening Driven By The Performance Report Of Issuers In The First Quarter Of 2022

Illustration. (Photo: Doc. Antara)

JAKARTA - The movement of the Composite Stock Price Index (JCI) is predicted to continue its strengthening in today's trading, Thursday, May 19 after parking at 6,793.41 or up 2.24 percent yesterday.

Throughout yesterday's trading, the JCI moved in the range of 6,648.94 - 6,804.9. Artha Sekuritas analyst Dennies Christopher Jordan in his research explained that the JCI closed higher in line with the strengthening of global stock markets while ignoring concerns about inflation.

Movements from within the country are influenced by the release of the issuer's performance in the first quarter of 2022 as well as the dividend distribution season. Dennis predicts the JCI will strengthen again in today's trading.

Technically, the candlestick formed a higher high and a higher low indicating a potential strengthening. The movement will be driven by the release of the issuer's performance as of the first quarter of 2022.

This strengthening is expected to be temporary because there will still be pressure from global sentiment related to inflation and the Fed's policies going forward.

Furthermore, Dennies estimates that the JCI will move at support levels of 6,640 and 6,716 and resistance at 6,836 and 6,880. The stocks that Dennies recommends for trading tomorrow are PT HM Sampoerna Tbk (HMSP), PT Sarana Menara Nusantara Tbk (TOWR), and PT Indofood Sukses Makmur Tbk (INDF).