Influenced By Global Sentiment, JCI Predicted To Move Weaker On Wednesday

Illustration. (Photo: Doc. Antara)

JAKARTA - The movement of the Composite Stock Price Index (JCI) is predicted to be limited in today's trading on Wednesday, July 13 after closing down 0.06 percent to 6,718.29 yesterday.

Binaartha Sekuritas analyst Ivan Rosanova said the JCI will still have a limited correction with a tendency to consolidate, which will be influenced by global sentiment.

"It is estimated that the JCI movement will be influenced by global sentiment in which the global stock market is still experiencing limited weakness. JCI will test support at 6,688 with resistance at 6,768," he said in his research.

Market participants and investors can look at stocks from the mining sector, especially coal. Several coal mining stocks rose in response to the rising coal price reference.

As for Phintraco Sekuritas analyst, Valdy Kurniawan, said that the JCI will return to a limited movement in the range of 6,700-6,780. JCI movement will still be influenced by global sentiment.

Technically, he analyzed that although the Stochastic RSI and MACD tend to move up, a number of stocks that are moving the JCI today are indicated to be overbought.

In addition, he assesses that market participants have the potential to wait and see before the release of some important data tomorrow. Starting from German inflation data in June 2022, UK economic growth in May 2022, and US inflation in June