Hary Tanoesoedibjo's Securities Believes The JCI Strengthening Trend Will Continue

Illustration (Photo: Doc. Antara)

JAKARTA – The Composite Stock Price Index (JCI) is expected to re-enter a strengthening trend at the beginning of this week. This is reflected in the strengthening of 26.65 points or 0.44 percent to 6.094.87 at the end of last week.

However, during the last week, the JCI was recorded at 0.52 percent with an average daily transaction of 6.75 percent.

"The best scenario is that the JCI can stay above the support level and strengthen from 6.150-6.170", said MNC Sekuritas as quoted on Monday, September 13.

To note, the JCI support level is in the range of 5.982-5.938 with resistance levels of 6.150 and 6.263.

It is estimated that the JCI condition will be much better when compared to the pressure that occurred on the United States (US) stock market, namely the Dow Jones Industrial Average (DJIA) last week with a record decline of 761.28 points, equivalent to 2.17 percent.

"This is a challenge for the JCI to continue its strengthening trend while the DJIA is experiencing a fall in the index", said the securities, which is affiliated with the conglomerate owned by Hary Tanoesoedibjo, closing.