JCI Is Projected To Continue Strengthening Today, Driven By The Release Of Issuers' Performance And Dividend Distribution

Illustration. (Photo: Doc. Antara)

JAKARTA - The movement of the Composite Stock Price Index (JCI) is predicted to continue strengthening in today's trading, Friday, April 22, after yesterday's parking lot closed at 7,762.19 or up 0.68 percent.

JCI yesterday had recorded the highest position at the level of 7,294.67. Artha Sekuritas analyst Dennies Christopher Jordan explained that the JCI closed higher since the beginning of trading supported by the release of performance and dividend distribution. On the other hand, from the economic data, there is minimal encouraging sentiment.

Dennis predicts the JCI will strengthen in today's trading. Technically, the candlestick formed a higher high and a higher low with the stochastic forming a golden cross indicating potential strengthening.

"The movement at the weekend will lack sentiment from economic data. On the other hand, the movement will still be driven by the release of performance and distribution of dividends," said Dennies in his research.

Furthermore, Dennies estimates that the JCI will move at support levels of 7,222 and 7,249 and resistance at 7,298 and 7,320. The stocks that Dennies recommends for trading today are PT Pakuwon Jati Tbk (PWON), PT Medco Energy Tbk (MEDC), and PT Sawit Sumbermas Sarana Tbk (SSMS).