JAKARTA - The movement of the Composite Stock Price Index (JCI) is predicted to continue its strengthening this weekend, Friday, August 12, after closing up 1.04 percent yesterday at 7160.38.
Artha Sekuritas analyst Dennies Christopher Jordan explained that the JCI closed significantly higher yesterday, driven by the strengthening of big cap stocks after fears of inflation subsided following the release of US Consumer Price Index (CPI) data.
"Meanwhile, from within the country, the JCI is supported by the release of issuers' performance per semester I/2022," said Dennies in his research.
Dennis predicts JCI will strengthen today. Technically, the candlestick formed a higher high and a higher low with the stochastic forming a golden cross indicating potential strengthening.
According to him, the movement will be driven by fears that inflation will begin to subside. In addition, domestically, the issuer's performance release season is still being driven in the first semester of 2022.
Furthermore, Dennies estimates that the JCI will move at support levels of 7,100 and 7,130 as well as resistance at 7,185 and 7,210. The stocks that Dennies recommends for today's trading are PT PP (Persero) Tbk (PTPP), PT Ciputra Development Tbk (CTRA), and PT Sarana Menara Nusantara Tbk (TOWR).
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