The JCI Has Limited Potential To Strengthen Today, Check Out The Stock Recommendations From Artha Sekuritas

Illustration. (Photo: Doc. Antara)

JAKARTA - The movement of the Composite Stock Price Index (JCI) has the potential to strengthen limited to today's trading Friday, May 20, after yesterday's gain of 0.44 percent or 29.92 points so that it parked at the level of 6.823.34.

Artha Sekuritas analyst, Dennies Christopher, said that the JCI closed higher in yesterday's trading, although there were still concerns about inflation, which pushed global stock markets to weaken.

Dennies added that positive sentiment from within the country came from the influence of issuers' performance releases per the first quarter of 2022 as well as the dividend distribution season. As for tomorrow's trading, Dennis predicts the JCI will strengthen.

"Technically, the JCI candlestick formed a higher high and a higher low indicating a potential strengthening. The movement will be driven by the release of issuers' performance in the first quarter of 2022," said Dennies in his research.

Even so, he also estimates that tomorrow's strengthening will be temporary because there will still be pressure from global sentiment related to prolonged inflation and the Fed's policy going forward.

For trading this weekend, Artha Sekuritas estimates the JCI will move with support at 6.678 and 6.533 and resistance at 6.909 and 6.995. As for a number of stocks that can be observed, said Dennies, including PT HM Sampoerna Tbk (HMSP), PT Sarana Menara Nusantara Tbk (TOWR), and PT Indofood Sukses Makmur Tbk (INDF).