How Is The JCI Prediction This Week Ahead Of Eid?

JAKARTA - In the last week leading up to the Eid al-Fitr holiday, the Jakarta Composite Index (JCI) is projected to tend to move sideways with a reasonable risk of correction. On the other hand, the issuer's financial report for the first quarter of 2022 will be the catalyst for the index boost.

Based on data from the Indonesia Stock Exchange (IDX), the JCI was parked at the level of 7.225.6 at the close of trading last weekend, Friday, April 22. Throughout the current year 2022, the JCI strengthened 9.79 percent.

Market capitalization penetrated IDR 9.453 trillion. Meanwhile, the cumulative net buys of foreign investors reached IDR 46.78 trillion year-to-date (YtD).

In trading last Friday, there was a jumbo transaction of shares of PT Tower Bersama Infrastructure Tbk (TBIG) worth IDR 21.82 trillion with a trading volume of 6.82 billion shares. As a result, daily transactions on Friday, April 22, reached IDR 38.56 trillion. Meanwhile, the average daily transaction value of shares was recorded at IDR 15.02 trillion.

PT Indosurya Bersinar Sekuritas analyst William Surya Wijaya said that ahead of Idul Fitri, the JCI movement will be more or less within the range of reasonable consolidation with a fairly limited pressure pattern.

"However, the momentum of a reasonable correction can be used to make accumulated purchases with short-term investment targets as well as daily trading," he wrote in his research, quoted Monday, April 25.

Today, the JCI is projected to tend to move sideways in the range of 7.101-7.292. The stocks of UNVR, AALI, JSMR, ASII, INDF, ITMG, and CTRA are recommended for investors to watch in trading earlier this week.