Positive Sentiment From January Effect, JCI Is Projected To Strengthen On Tuesday

JAKARTA - The movement of the Composite Stock Price Index (IHSG) is projected to strengthen in today's trading, Tuesday, January 24, after last week it strengthened 0.81 percent or 55 points to 6,874.

JCI is expected to continue to be in an upward trend in line with the positive sentiment of the January Effect. Even so throughout 2023, the JCI only edged up 0.35 percent.

Head of Research NH Korindo Sekuritas Liza C. Suryanata said, technically the next JCI movement could still retest the MA50 resistance around 6,820-6,860.

"Because the MA50 had prevented the increase in the JCI at the end of last December so we didn't have time to touch the 7,000 area again. This time, hopefully, the January Effect still has a chance for the JCI, can it penetrate the MA50, then there is a more flexible chance to 7,000," he said in research.

NH Korindo Sekuritas recommends market players to continue to accumulate shares in stages. It is also seen that market conditions will still be quite volatile due to macro data from other parts of the world that still have to grapple with the inflation rate.

"This also brings anxiety that all central banks are still with the same hawkish tone, the Central Banks of the US, UK, the European zone will still be diligent in raising interest rates to combat the fairly high inflation rate," he said.

In addition, an increase in interest rates is still a threat to the position of our rupiah, which if it weakens again will create unfavorable sentiment for the market.

"The stock market will be very dynamic and volatile, but we will be able to explore a lot of trading potential," said Liza.