JCI This Week Potentially Weakening, What Stocks Are Recommended?

Illustration. (Photo: Doc. Antara)

JAKARTA - The Composite Stock Price Index (JCI) closed up 0.11 percent or 7.943 points to the level of 7,381.907 at the end of trading last week, Friday, March 8. JCI last week rose by 0.96 percent.

MNC Sekuritas analyst Herditya Wicaksana said that in the past week the JCI was influenced by the strengthening of commodity prices, especially from coal and crude oil.

Globally, it is estimated that investor optimism will increase after a speech from Federal Reserve Governor Jerome Powell regarding the potential for cutting the Fed's interest rate this year.

Meanwhile, from within the country, the sentiment of dividend distribution from banking issuers also spurs the JCI.

Herditya projects that this week with a fairly short trading time of 3 days, the JCI will tend to pullback first after successfully breaking resistance at the level of 7,403 and recording all time high at 7,416, with support of 7,307 and resistance 7,420.

Herditya recommends PTRO shares in the price range of IDR 4,970 IDR 5,175, ASII at IDR 5,275 - IDR 5,425, and CPIN at the level of IDR 5,325 - IDR 5,475.