JCI Monday Prone To Correction, Analyst Recommends These 3 Stocks

Illustration. (Photo: Doc. Antara)

JAKARTA - The movement of the Composite Stock Price Index (JCI) is predicted to be prone to correction on Monday, March 7, after closing up 0.87 percent last weekend to 6,928.42.

Artha Sekuritas analyst Dennies Christopher Jordan said the strengthening was in a limited range of movements because investors were still worried that the Russian invasion of Ukraine would continue.

"Global stock markets still tend to weaken," he said in his research.

For today's trading, Dennis predicts the JCI will weaken. Technically, the candlestick formed a doji with the stochastic forming a dead cross indicating potential weakness.

"The movement is still overshadowed by concerns about the Russian invasion of Ukraine. Commodity prices which had strengthened also began to experience a correction," he said.

Meanwhile, Artha Sekuritas predicts JCI will move with a range of resistance 1 6,944 and resistance 2 6,960. Next, support 1 6,903 and support 2 6,878.

Hold recommendations are given for shares of PT Pakuwon Jati Tbk (PWON) and PT Adaro Energy Indonesia Tbk (ADRO). Furthermore, a sell recommendation is given for PT Bank Central Asia Tbk (BBCA) shares and a buy recommendation for PT Summarecon Agung Tbk (SMRA) shares.