JCI Today Potentially Strengthens Slightly Driven By The Release Of Issuers' Performance In First Quarter Of 2022

Illustration. (Photo: Doc. Antara)

JAKARTA - After rising 4.85 percent in the past week, the Jakarta Composite Index (JCI) is predicted to have room for a slight gain in trading Monday, May 23.

Last weekend, the JCI closed at 6,918.14. As a result, throughout the current year of 2022, the JCI strengthened 5.12 percent, or the highest return among the stock exchanges of Asia Pacific countries.

Artha Sekuritas Indonesia analyst Dennies Christopher estimates that the JCI will strengthen to a limited extent earlier this week. Technically, he continued, the candlestick formed a higher high and a higher low indicating a potential strengthening.

According to him, the movement will be driven by the release of the issuer's performance as of the first quarter of 2022. However, it is necessary to watch out for the range of strengthening to be limited and to test the strong resistance of the 50 moving average.

"If it fails to penetrate this level, the JCI has the potential to weaken again," said Dennies in the research.

JCI, he said, is projected to move at the support level of 6,740-6,829 and resistance 6,981-7,044. BBRI and BSDE shares were recommended to buy speculation and ASII received a buy recommendation.