JCI Early Week OrDetested? These Are Some Of The Recommended Shares

Illustration. (Photo: Doc. Antara)

JAKARTA - The Composite Stock Price Index (JCI) is projected to still tend to be depressed in today's trading, Monday, December 26. However, there are still a number of stocks that are still worth paying attention to.

Last week, the JCI weakened to the level of 6,800.67 from 6,812.19 at the close of the previous week. Throughout 2022, the JCI strengthened 3.33 percent, the second highest on Asean after the Singapore Exchange rose 4.11 percent.

JCI was actually the best exchange in Asia, but fell back below the level of 7,000. Yugen's CEO Growing Sekuritas William Surya Wijaya said that at the beginning of the last week of 2022, the JCI showed a fairly stable movement.

In the event of a correction momentum, investors can use it to accumulate purchases for strong fundamental shares and have high liquidity.

"Given the stable economic conditions, it can be seen from the release of the economic data that was reported," he explained in a research publication.

Today the JCI has the potential to weaken in the range of 6,788 - 6,902. Its choice of share recommendations are WTON, BBCA, BINA, PWON, GGRM, HMSP, WIKA, BBNI, JSMR, TBIG, TLKM, EXCL.

Meanwhile, the Phintraco Sekuritas analyst team said the JCI resistance would be at the level of 6,880 with support at 6,720.

"The narrowing of the RSI Stochastic slope in the overbought area makes the JCI prone to further corrections this Monday. The formation of the doji star pattern strengthens this condition," wrote the Phintraco Sekuritas Research Team.

According to Phintraco Sekuritas, the strong signal of window dressing has not been seen before the end of this year. Transaction volume tends to fall this weekend indicating potential consolidation in the last week of December 2022.

Another factor estimated to affect the JCI movement is shorter trading days next week due to the Christmas and Boxing Day holidays in the majority of European and US countries on Monday 26 December. Without Wall Street's directives and the majority of the European index at the beginning of the week, it has the potential to increase the tendency to wait and see market players in Indonesia.

"Nevertheless, the JCI's potential rebound to the range of 6,900-6,950 is still open. Especially if the trend of foreign net buy investors continues next week," he said.