JAKARTA - The movement of the Composite Stock Price Index (CSPI) is predicted to strengthen on Monday, January 31, after closing last week at 6,645.16 or up 0.52 percent.
Artha Sekuritas analyst Dennies Christopher Jordan said that the JCI closed higher last week after the Fed set interest rates at 0.25 percent but still plans to raise it in March 2022.
"From within the country, there is a minimal sentiment from economic data. The movement is driven by rising commodity prices," said Dennies in his research.
According to him, JCI is predicted to strengthen in early trading today. Technically, the candlestick formed a higher high and a higher low with the stochastic indicator forming a golden cross even though it was not accompanied by an increase in volume.
Dennis said this movement indicates a potential strengthening. However, this is thought to be only temporary.
VOIR éGALEMENT:
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"The movement will still be driven by rising commodity prices," he explained.
Furthermore, Dennies estimates that the JCI will move at support levels of 6,572 and 6,591 as well as resistances of 6,628 and 6,646. The stocks that are recommended by Artha Sekuritas are PT PP (Persero) Tbk (PTPP), PT Media Nusantara Citra Tbk (MNCN), and PT Dharma Satya Nusantara Tbk (DSNG).
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