JCI This Week Is Projected To Weaken, A Number Of Stocks Can Be Investor's Choice

Illustration. (Photo: Doc. Antara)

JAKARTA - The combined stock price index (JCI) in the next week is predicted to still fluctuate and tend to weaken with a movement range at the level of 6,950-7,100. Previously, in trading Friday, Aoril 26, the JCI closed an subsidence of 119.2 points, down 1.67 percent to the level of 7,036.

Technically, the JCI has penetrated support for EMA 200 around the level of 7,100 and there is still potential for further decline to the next support around the 7,000 area.

"If the JCI is able to survive above the level of 7,100, there is a potential reflection to test minor resistance at 7,200," wrote KB Valbury Sekuritas Indonesia in its research.

Some of the important data releases market participants have been waiting for in the next week, including foreign direct investment data in the first quarter of 2024 on Monday 29 April and inflation data for the April period, which is expected to increase from 3.05 percent in the previous month.

Meanwhile, in the past week, the JCI seemed to fall with a total decline of 51 points (0.72 percent), which was triggered by sentiment of weakening the rupiah exchange rate against the US dollar. The rupiah had dropped to the level of Rp. 16,250 per US dollar. In addition, external factors such as increasing geopolitical tension between Iran and Israel have also affected the JCI movement.

Foreign investors also recorded net sell transactions of more than IDR 4 trillion over the past week. A number of stocks have fallen, including BBRI, BBTN, TLKM, and ASII. Meanwhile, the supports of the JCI are technology stocks, such as GOTO and BUKA, whose prices are getting stronger.

Meanwhile, KB Valbury Sekuritas advises investors to pay close attention to a number of stocks, including ASII, TLKM, EXCL, ISAT, ANTM, and MDKA.