JAKARTA - The movement of the Composite Stock Price Index (IHSG) is predicted to continue its correction in today's trading, Tuesday, June 14 after parking at 6.995.44 or 1.29 percent weakened yesterday.
Artha Sekuritas analyst Dennies Christopher Jordan explained that the JCI closed lower, overshadowed by concerns over inflation and expectations that the Fed would soon raise interest rates at this week's meeting.
Meanwhile, from within the country, the market is still supported by the dividend distribution season but has not been able to drive the JCI movement. Dennis predicts the JCI will weaken again in today's trading.
Technically, the candlestick formed a lower high and a lower low with the stochastic indicator widening after forming a deadcross indicating potential weakness.
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"Movement will be limited due to waiting for the Fed's rate hike in the middle of this week," said Dennis in research.
Dennies estimates that JCI will move at support levels of 6.899 and 6.947 as well as resistance at 7.019 and 7.043. The stocks that Dennies recommends for trading today are PT Bumi Serpong Damai Tbk (BSDE), PT Mitra Keluarga Karyasehat Tbk (MIKA), and PT Tower Bersama Infrastructure Tbk (TBIG).
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