JAKARTA - The movement of the Composite Stock Price Index (JCI) today, Thursday, October 28, is predicted to continue its weakening after yesterday's index closed down 0.82 percent to a level of 6,602.21.
Artha Sekuritas analyst Dennies Christopher Jordan said the JCI closed lower yesterday as investors took profit because the gains were quite significant and stuck at the all-time high resistance. He predicts that the JCI will weaken again today.
"JCI formed a long black body candlestick pattern indicating bearish potential after failing to break the all-time high resistance," said Dennies in his daily research.
Furthermore, Dennies said, the weakening of the JCI is expected to be temporary because it is driven by the economic recovery and the release of issuers' performance as of the third quarter of 2021.
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"JCI will move at support levels of 6,540 and 6,571 and resistance at 6,651 and 6,700.
The stocks that Dennies recommends in today's trading are PT Sarana Menara Nusantara Tbk (TOWR), PT BFI Finance Indonesia Tbk (BFIN), and PT Perusahaan Gas Negara Tbk (PGAS).
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