JAKARTA - The movement of the Composite Stock Price Index (JCI) is predicted to continue its weakening in today's trading, Tuesday, February 15 after yesterday the JCI closed at 6,734.48 or decreased by 1.19 percent.
Artha Sekuritas analyst Dennies Christopher Jordan said the JCI closed lower in line with the weakening global stock market overshadowed by concerns after tensions between Russia and Ukraine escalated.
"On the other hand, the movement is still supported by strong commodity prices," said Dennies as quoted from his research.
JCI is predicted to weaken in tomorrow's trading. Technically, the candlestick formed a long black body with the stochastic widened after forming a deadcross indicating the potential to continue weakening. Investors will still be watching developments between Russia and Ukraine.
Meanwhile, the country is still overshadowed by the daily high number of COVID-19 cases. Furthermore, Dennies estimates that the JCI will move at support levels of 6,644 and 6,689 and resistance at 6,787 and 6,840.
There are several stocks that Dennies recommends for trading today, including PT Ciputra Development Tbk (CTRA), PT Media Nusantara Citra Tbk (MNCN), and PT Bank Central Asia Tbk (BBCA).
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