JAKARTA - The movement of the Composite Stock Price Index (JCI) is projected to strengthen again for trading today, Wednesday, August 10, after yesterday's gain of 0.23 percent or 16.03 points so that it parked at the level of 7,102.88.
Artha Sekuritas analyst Dennies Christopher said the JCI closed higher in yesterday's trading with a limited range. According to him, today's movement was driven by the release of retail sales data which recorded growth.
On the other hand, the issuer's performance release season in the first semester of 2022 also encourages strengthening. As for today's trading, Dennis predicts the JCI will continue to strengthen.
He explained that technically the candlestick, JCI formed a higher high and a higher low indicating a potential strengthening.
"The movement will be driven by the release of issuers' performance reports in the first semester of 2022. In addition, investors will pay close attention to the release of retail sales data," Dennis wrote in his daily research.
However, Dennies said investors need to be aware of the stochastic that forms a deadcross in the overbought area so that the JCI is prone to correction. For tomorrow's trading, Artha Sekuritas estimates the JCI will move with support at 7,081 and 7,060 as well as resistance at 7,133 and 7,164.
According to Artha Sekuritas, a number of stocks that can be observed today are PT PP Tbk (PTPP), PT Mitra Keluarga Karyasehat Tbk (MIKA), and PT Sarana Menara Nusantara Tbk (TOWR).
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