JAKARTA - The movement of the Composite Stock Price Index (JCI) is predicted to continue strengthening in today's trading, Tuesday, April 19 after yesterday's closing at 7,275.06 or up 0.55 percent.
JCI yesterday had recorded the highest position at the level of 7,277.07. Artha Sekuritas analyst Dennies Christopher Jordan in his research explained that the JCI closed higher supported by the release of issuers' performance and dividend distribution.
"From economic data, China's GDP recorded growth and the trade balance again recorded a surplus of 4.53 billion US dollars," said Dennies in the research.
Dennis predicts the JCI will strengthen in today's trading. Technically, the stochastic formed a golden cross with the candlestick forming a long white body indicating the potential for strengthening is still quite high.
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"The movement will still be driven by the release of the issuer's performance and dividend distribution. The movement will tend to be limited ahead of the 7 Days repo rate setting in the middle of the week," he said.
Dennies estimates that the JCI will move at support levels of 7,231 and 7,253 and resistance at 7,287 and 7,299. The stocks that Dennies recommends for trading today are PT Indika Energy Tbk (INDY), PT Medco Energy Tbk (MEDC), and PT Sawit Sumbermas Sarana Tbk (SSMS).
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