JAKARTA - The movement of the Composite Stock Price Index (JCI) is predicted to continue strengthening in today's trading, Tuesday, February 8, after yesterday successfully breaking through its highest level by rising 1.09 percent or 73.55 points so that it parked at 6,804.93.
Artha Sekuritas analyst Dennies Christopher Jordan said the JCI strengthened yesterday driven by the release of domestic Gross Domestic Product (GDP) data which recorded a growth of 3.69 percent. In addition, Dennies also highlighted the actions of foreign investors who recorded a significant net purchase of IDR 1.96 trillion.
As for today's trading, Dennis predicts the JCI will strengthen. He explained that technically the JCI candlestick formed a higher high and a higher low in the short-term strengthening trend, which is expected to continue strengthening.
"The movement will still be driven by optimism from GDP data and investors will still watch the development of COVID-19 cases which recently rose significantly," said Dennies in his research.
Artha Sekuritas estimates JCI will move with support at 6,766 and 6,728 and resistance at 6,824 and 6,844. The stocks that can be observed include PT Bumi Serpong Damai Tbk (BSDE), PT Media Nusantara Citra Tbk (MNCN), and PT Bank Central Asia Tbk (BBCA).
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