JAKARTA - The movement of the Composite Stock Price Index (JCI) is predicted to weaken in today's trading, Wednesday, March 16, after yesterday it fell 0.49 percent or 34.02 points so that it parked at the level of 6.918.19.
Artha Sekuritas analyst Dennies Christopher said the JCI closed lower in yesterday's trading due to profit-taking after rising significantly in the past week. According to Dennies, investors prefer to secure profits and be conservative ahead of setting interest rates in the middle of this week.
As for today's trading, Dennis predicts the JCI will weaken. He explained that technically the candlestick, JCI formed a long black body with a fairly high volume and a deadcross in the overbought area indicating that there is still potential for weakness.
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"Investors will still tend to be conservative before setting interest rates. The domestic sentiment is minimal," said Dennies in his research.
For tomorrow's trading, Artha Sekuritas estimates JCI will move with support at 6.876 and 6.834 and resistance at 6.978 and 7.038. A number of stocks that can be observed include PT PP (Persero) Tbk (PTPP), PT Media Nusantara Citra Tbk (MNCN), PT Ciputra Development Tbk (CTRA).
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