JCI Next Week Predicted To Remain Depressed

Illustration. (Photo: Unsplash)

JAKARTA - The Jakarta Composite Index (JCI) closed down 14.52 percent this week compared to last week's closing. JCI closed this week at 4,194.94 levels, lower than the previous week's closing at 4,907.57 levels.

Director of Anugerah Mega Investama Hans Kwee said the Indonesian stock market had closed positively on the trade last Friday, responding positively to the global and regional markets.

The cut in the benchmark interest rate by Bank Indonesia did not get much response from the market due to outside influences. BPS stated that the trade balance for the February 2020 period was a surplus of US $ 2.34 billion. The surplus was due to the export value of US $ 13.94 billion and the import value of US $ 11.60 billion.

The JCI on Friday managed to strengthen, but seeing the pressure on the American market, Hans estimates that JCI has the opportunity to be depressed again with support at 3,918 to 3,686 levels and resistance at 4,238 to 4,900 levels.

"At the beginning of the week there is a chance for pressure, but at the end of the week we estimate that JCI can return to a limited rise. Market players must be calm, do not panic and remain rational. Carry out accumulated purchases for investors who have an investment period of more than 1 year," said Hans in his research quoted on Sunday. March 22.

Based on data from the Indonesia Stock Exchange (IDX), even though the JCI was in a weakening trend, the average daily transaction value and the average daily transaction volume during the week were closed showing an increase.

The average daily transaction value increased by 2.12 percent to IDR 7,987 trillion from IDR 7,821 trillion in the previous week. Then, the average daily transaction volume showed an increase of 15.35 percent to 7.302 billion units of shares from 6,330 billion units of shares in the previous week.

Meanwhile, the average daily transaction frequency decreased by 12.94 percent, amounting to 411,606 thousand transactions from 472,770 thousand transactions at the close of trading last week. The market capitalization value also decreased to Rp4,854.050 trillion from Rp5,678.279 trillion the previous week.