JAKARTA - The movement of the Composite Stock Price Index (JCI) is predicted to rebound in today's trading, Wednesday, March 30, after yesterday's parking at 7,011.68 or 0.54 percent lower.
JCI had recorded the highest position at the level of 7,072.77 and the lowest at 7,007.91. Noted, 228 stocks rose, 289 stocks weakened and 167 stocks moved in place. Foreign investors recorded a net foreign buy of IDR 1 trillion in all markets.
Artha Sekuritas analyst Dennies Christopher Jordan in his report explained that the JCI corrected yesterday after strengthening quite significantly the previous day. Domestic movements are influenced by performance releases and dividend distributions.
From a global perspective, investors are watching developments in Russia-Ukraine. Dennies predicts that the JCI will rebound today.
"Technically, the JCI trend is still in short-term consolidation. The movement will be driven by the release of the performance of issuers and the distribution of dividends by several issuers," said Dennies in his research.
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Investors will pay close attention to talks on a peace plan between Russia and Ukraine, although they have not yet found a bright spot. Furthermore, Dennies estimates that the JCI will move at support levels of 6,965 and 6,988 and resistance at 7,053 and 7,095.
The stocks that Dennies recommends for trading today are PT Erajaya Swasembada Tbk (ERAA), PT Media Citra Nusantara Tbk (MNCN), and PT Semen Indonesia Tbk (SMGR).
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