The JCI Is Predicted To Turn Corrected This Friday

Illustration. (Photo: Doc. Antara)

JAKARTA - The movement of the Composite Stock Price Index (JCI) is predicted to reverse corrected in today's trading, Friday, July 15, after yesterday's closing at 6.694.30, or up 0.8 percent.

In yesterday's trading, the JCI moved in the range of 6.607 to 6.700 Artha Sekuritas analyst Dennies Christopher Jordan in his research explained that the JCI closed higher supported by bargain hunting after the previous day's weakening reached the oversold level.

"On the other hand, the movement is still overshadowed by a lot of negative sentiment, especially from inflation and expectations of higher interest rates," said Dennies in his research.

Dennis predicts the JCI will weaken in today's trading. Technically, the candlestick formed a piercing line formation with the stochastic forming a golden cross around the oversold area indicating a potential strengthening.

Movements are expected to be limited due to persistent negative sentiment, including inflation and expectations of higher interest rates. Dennies estimates that JCI will move at support levels of 6.572 and 6.631 and resistance at 6.724 and 6,758.

The stocks that Dennies recommends for trading today are PT Adaro Energy Tbk (ADRO), PT Sarana Menara Nusantara Tbk (TOWR), and PT XL Axiata Tbk (EXCL).