Check Out the JCI Movement Predictions This Week

Illustration. (Photo: Doc. Antara)

JAKARTA - The Composite Stock Price Index (IHSG) continued to rise slightly by 0.08 percent to 7,009.63 on Friday 24 November. Meanwhile, within a week, the JCI strengthened 0.46 percent.

Phintraco Sekuritas in its research said. Last Friday, the JCI formed a doji star on the IHSG after the gap-up. This indicates a pullback for the JCI and a test of support at 6,950 on Monday, November 27.

"The JCI movement this week is estimated to be influenced by the public exposure held by IDX on 27-30 November 2023. The majority of stocks with large market capitalization took part in this event," explained Phintraco Sekuritas research.

Meanwhile, in terms of economic data, a number of global and domestic data will be released next week. China will release Industrial Profits (YTD) YoY as of October 2023.

Then, the US will release the CB Consumer Confidence as of November 2023. The realization of these two data could influence the estimated inflation rate for the rest of the end of 2023.

Monday's JCI is predicted to move with support of 6,950 and resistance of 7,050. The recommended shares include TPIA, HRUM, ASII, UNTR, BRPT, BBCA, and SRTG.