JAKARTA - The movement of the Composite Stock Price Index (JCI) on Wednesday, October 27 is predicted to strengthen. IHGS is projected to be able to penetrate the 6,700 level.
Artha Sekuritas analyst Dennies Christopher Jordan said the JCI closed at 6,656.93 or rose 0.47 percent at the close of trading on October 26. JCI closed higher in line with the strengthening of the US stock market which reached a record high.
"The movement was supported by shares in the banking sector. It was recorded that foreign investors made a net purchase of Rp773.06 billion," said Dennies as quoted from his research.
Dennies also predicts that the JCI on Wednesday will strengthen again. He explained, technically the candlestick formed a higher high and a higher low, moving in a bullish trend and will test the all-time high resistance.
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According to him, the JCI movement tomorrow will be driven by the release of the performance of issuers in the third quarter of 2021. Meanwhile, concerns about tapering have faded a bit.
Dennies estimates that JCI will move at support levels of 6,616 and 6,636 and resistance at 6,678 and 6,700. The stocks that Dennies will recommend tomorrow are PT Sarana Menara Nusantara Tbk (TOWR), PT BFI Finance Indonesia Tbk (BFIN), and PT Perusahaan Gas Negara Tbk (PGAS).
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