JCI On Tuesday Will Have A Chance To Strengthen, Thanks To Positive Indonesian Economic Data

JAKARTA - The movement of the Composite Stock Price Index (JCI) is predicted to strengthen again in today's trading, Tuesday, November 8, after yesterday's closing, it rose 56.86 points or 0.81 percent to 7,102.39.

Artha Sekuritas analyst, Dennies Christopher Jordan said, JCI has the opportunity to continue its strengthening today, where technically the candlestick forms a long white body supported by a golden cross on the MA50 indicating a potential strengthening.

"The movement will still be driven by optimism on strong economic data and plans for dividend distribution by several issuers," he said in the research.

He estimates JCI will move with support 1 at 7,003 and resistance 1 at 7,094. Then support 2 at the level of 6,961 with resistance 2 at 7,143.

According to Dennies, some stocks that are interesting to watch are PGAS, BRPT, and TOWR.

Meanwhile, Head of Research at Mirae Asset Sekuritas Hariyanto Wijaya and his team in their monthly research said that the Indonesian capital market will resume its growth trend in November 2022.

"We added a CPO plantation company, namely DSNG, and two cement companies, namely INTP and SMGR, to our monthly stock picks to replace UNTR, ADRO and PTBA," he explained in the research.

Mirae's stock options tend to favor banks, coal miners, CPO, and cement producers such as BBRI, BMRI, BNGA, BTPS, ITMG, DSNG, INTP, and SMGR.