JAKARTA - The movement of the Composite Stock Price Index (JCI) is predicted to continue its correction in today's trading, Thursday, July 14, after yesterday's closing at 6,640.99, or down 1.15 percent.
Throughout yesterday's trading, the JCI moved in the range of 6,636.04 - 6,727.92. Artha Sekuritas analyst Dennies Christopher Jordan explained that the JCI closed lower after moving in a negative area since the beginning of the trading session, influenced by concerns about an increase in interest rates later this month and driven by the weakening of global stock markets.
Dennies predicts JCI will weaken in today's trading, where technically, the candlestick forms a long black body with the stochastic forming a dead cross indicating a potential weakening with the range reaching the lower Bollinger band support.
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"Investors will pay close attention to some economic data that is expected to influence interest rate policy later this month," said Dennies in his research.
Furthermore, Dennies estimates that the JCI will move at support levels of 6,576 and 6,608 and resistance at 6,699 and 6,758.
The stocks that Dennies recommends for trading today are PT Adaro Energy Tbk (ADRO), PT Sarana Menara Nusantara Tbk (TOWR), and PT XL Axiata Tbk (EXCL).
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