The JCI On Tuesday Potentially Strengthens, Supported By Stable Domestic Economy

Illustration. (Photo: Doc. Antara)

JAKARTA - The movement of the Composite Stock Price Index (JCI) has the potential to strengthen in today's trading, Tuesday, June 28, after yesterday closing down 26 points or 0.38 percent to a level of 7.016.

The energy, basic materials, consumer cyclicals, technology and health sectors moved negatively and dominated the decline in the JCI. CEO of PT Yugen Bertumbuh Sekuritas William Surya Wijaya explained that the JCI is currently heading to the last week of the first semester of 2022.

The pattern of movement still shows that the JCI is within the range of reasonable consolidation with considerable opportunities for pressure.

"However, stable economic conditions accompanied by improved performance of issuers during the first semester will also support the JCI movement for some time to come," he explained in a daily research.

He said today the JCI has the potential to strengthen in the range of 6.921-7.074. His party recommends that investors pay close attention to INDF, ICBP, UNVR, BBCA, HMSP, TBIG, TLKM, JSMR, and SMRA stocks.

Meanwhile, Associate Director of Research and Investment of Pilarmas Investindo Sekuritas Maximilianus Nico Demus explained that based on technical analysis, his party sees that the JCI has limited potential to weaken with a rebound opportunity in the range of 6.922-7.071.

"Level 7.000 will be a critical level," he said in the research.

Sentiment from abroad came from the Central Bank of China which again promised to maintain monetary policy that can support the economic recovery from COVID-19. Monetary policy will continue to be accommodative to support aggregate economic recovery.