JCI Wednesday Predicted Fluctuating, Can It Rebound?

Illustration. (Photo: Doc. Antara)

JAKARTA - The movement of the Composite Stock Price Index (JCI) is predicted to fluctuate in today's trading, Wednesday, December 21, after closing down 0.17 percent yesterday or 11.3 points to the level of 6,786.31.

The Phintraco Sekuritas Research Team said the JCI was expected to fluctuate again in the range of 6,720-6,830 today. JCI resistance is expected to be at the level of 6,880, with support at 6,720.

"JCI formed a star doji pattern and decreased transaction volume in today's trading. Thus, the JCI is expected to fluctuate again above critical support level 6,720 on Wednesday," said the Phintraco Sekuritas Research Team.

According to him, one of the factors that overshadowed the JCI movement was the anticipation of the results of the Bank Indonesia (BI) Board of Governors Meeting (RDG) which is estimated to raise the benchmark interest rate by 25 bps on December 22, 2022.

The increase was slower than the 50 bps increase in recent months.

"Regarding these sentiments, the rates, such as BBNI, BMRI and PWON, can be considered on Wednesday," wrote Phintraco Sekuritas.

In addition, ahead of the Christmas and New Year holidays, investors can also pay attention to retail stocks that tend to move positively or show potential rebounds. Markets can pay attention to MAPI, ACES, KRYA, AND MYOR.