JAKARTA - The movement of the Jakarta Composite Index (IHSG) is expected to move bearish in today's trading, Tuesday, December 13, after closing yesterday at 6.734.45 or up 0.29 percent.
Yesterday, 316 stocks rose, 226 stocks fell and 162 stocks moved in place. The market capitalization is monitored at IDR 9.272.84 trillion.
Binaartha Sekuritas analyst Ivan Rosanova in his research explained that the JCI tends to be at the start of a bullish reversal because it experienced a rebound and closed above the 85.4 percent Fibonacci retracement of wave (b) in the triangle pattern scenario on Monday.
As for today's trading, Ivan predicts that the JCI will test the nearest resistance at 6.813 referring to the Fibonaci retracement analysis. Meanwhile, JCI support levels were at 6.679, 6.641 and 6.600, with resistance levels in the range of 6.813, 6.866 and 6.919.
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"Based on the MACD indicator indicating bearish momentum," he explained.
Ivan also recommended Binaartha Sekuritas' preferred stocks for today's trading, including PT Astra International Tbk (ASII), PT Bank Mandiri (Persero) Tbk (BMRI), PT Harum Energy Tbk (HRUM), and PT Indah Kiat Pulp and Paper Tbk ( INKP)
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