JCI Early Week Is Estimated To Be Still Weakesting The Action To Sell Investors

Illustration. (Photo: Doc. Antara)

JAKARTA - The movement of the Composite Stock Price Index (JCI) is projected to be still in a bearish trend, aka weakening for today's trading, Monday, December 13.

Research team Phintraco Sekuritas said there was an even sell-off in trading last weekend. This can be seen from the weakening of all sectoral indexes in weekend trading.

"Be aware of critical support levels of 6,640, if the weakening continues on Monday," wrote the research team Phintraco Sekuritas, quoted from Antara.

The market responded negatively to several sentiments from within the country. This sentiment is a decrease in consumer confidence index from 120.3 in October 2022 to 119.1 in November 2022. Then there is a slowdown in retail sales growth from 4.6 percent to 3.7 percent in November 2022 year-on-year (yoy).

Externally, China's inflation decline from 2.1 percent to 1.6 percent yoy in November 2022 indicated a slowdown in China's economy. This is the result of tightening COVID-19 restrictions in the past month.

Phintraco Sekuritas projects the JCI resistance level tomorrow at 6,800, Pivot 6,700, and Support 6,640. The stocks recommended by Phintraco Sekuritas for trading tomorrow are BBCA, BBNI, BBRI, ASII, TLKM and INCO.