JCI Thursday Awaiting RDG BI Results

Illustration. (Photo: Doc. Antara)

JAKARTA - The movement of the Composite Stock Price Index (JCI) will still fluctuate waiting for the results of the Bank Indonesia (BI) board of governors meeting, today Thursday 16 March. Yesterday, the JCI weakened 0.21 percent or 13.68 points to the level of 6,628.14.

Phintraco Sekuritas in his research said that on Wednesday the JCI had tested the level of 6,700 before closing the correction of 0.21 percent to 6,628.

"In tantamount to this movement, there was a negative slope widening in Stochastic RSI and MACD," wrote research on Phintraco Sekutitas.

Thus, market participants still need to be aware of the potential for further weakening to the support area of 6,585. This Thursday, the JCI will resume its fluctuating motion with support at the level of 6,585 and resistance at the level of 6,715.

The JCI movement is influenced by the focus of market players which will be focused on the results of the BI RDG on Thursday afternoon. The BI-expected market will also take steps to raise interest rates to see the Fed Rate increase of 25 bps.

"Influenced by this, the rupiah exchange rate tends to be stuck at IDR 15,360 per US dollar in the last few days," explained Pintraco Sekuritas research.

The shares chosen by Phintraco Sekuritas on Thursday include ASLC, ANTM, MAPI, AKRA, BFIN, ESSA, DSNG, and SIDO.