JAKARTA - The movement of the Composite Stock Price Index (JCI) is predicted to continue to weaken in today's trading, Friday, March 31, after yesterday's decline of 0.45 percent so that it parked at 6,808.95.
Phintraco Sekuritas predicts the JCI will fluctuate again in today's trading at 6,865 resistance, 6,800 pivots, 6,765 supports. Phintraco Sekuritas explained that there was a resistance test of 6,865, the JCI closed corrected on Thursday.
"One of the triggers is estimated to be profit taking considering there are indications of overbought in the Stochastic RSI. JCI is expected to move fluctuating again in the range of 6,780-6,865," wrote Phintraco Sekuritas in his research.
From external, Phintraco Sekuritas explained, China NBS Manufacturing PMI is expected to drop to 51.5 in March 2023, from 52.6 in February 2023. Despite this decline, this condition shows the possibility that the Chinese manufacturing sector is still in an expansive condition.
Still external, Phintraco Sekuritas added, the market is looking forward to German unemployment data in March 2023, European Union Inflation in March 2023, US Personal Consumption Expenditure and US Michigan Consumer Sentiment Final for March 2023.
"With a large amount of important data released this weekend, the market is expected to tend to wait and see," explained Phintraco Sekuritas.
Although JCI fluctuates, Phintraco Sekuritas recommends six shares, namely BMRI, BBRI, BBNI, ITMG, TLKM and MIKA.
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