JCI Will Continue To Strengthen Today, Still Supported By The Release Of Issuers' Performance In The First Quarter Of 2022

Illustration. (Photo: Doc. Antara)

JAKARTA - The movement of the Composite Stock Price Index (JCI) is predicted to strengthen again in today's trading, Tuesday, May 31, after yesterday's parking at 7,037.56 or up 0.16 percent.

Foreign investors recorded a net foreign buy action of IDR 1.27 billion. Artha Sekuritas analyst Dennies Christopher Jordan in his research explained that the JCI closed higher yesterday although it was corrected throughout the trading day due to profit taking, where last week's gain was quite significant.

"The movement is still supported by the release season for the issuer's performance in the first quarter of 2022 and the distribution of dividends," he said in the research.

Dennies predicts that JCI will strengthen in today's trading, where technically, the candlestick forms a higher high and a higher low indicating a potential strengthening. Movement will be limited due to a shorter trading week due to the midweek holiday.

Furthermore, Dennies estimates that the JCI will move at support levels of 6,931 and 6,984 as well as resistance at 7,079 and 7,121. The stocks that Dennies recommends for trading today are PT HM Sampoerna Tbk (HMSP), PT PP Tbk (PTPP), and PT Telkom Indonesia Tbk (TLKM).