Waiting For The Fed's Interest Rate Announcement, The JCI Is Predicted To Weaker Today

Illustration. (Photo: Doc. Antara)

JAKARTA - The movement of the Composite Stock Price Index (JCI) is predicted to be corrected in today's trading, Wednesday, March 27, after closing down 0.41 percent yesterday at 6.871.53 or up 0.19 percent.

Throughout yesterday's trading, the JCI moved in the range of 6.862.64 - 6.899.92. Artha Sekuritas analyst Dennies Christopher Jordan explained, the JCI closed higher with a limited range overshadowed by investors who tend to be conservative ahead of the Fed's interest rate policy in the middle of this week.

"The JCI will weaken in today's trading. Technically, the movement is stuck in the MA50 area with the stochastic in the overbought area, so there is potential for a correction in the short term," said Dennies in his research.

On the other hand, investors will still be conservative due to anticipating the Fed's interest rate policy in the middle of this week. Furthermore, Dennies estimates that the JCI will move at support levels of 6.824 and 6.841 and resistance at 6.891 and 6.924.

The stocks that Dennies recommends for trading today are PT Wijaya Karya Tbk (WIKA), PT Media Nusantara Citra Tbk (MNCN), and PT Sarana Menara Nusantara Tbk (TOWR).