JAKARTA - The movement of the Composite Stock Price Index (JCI) is predicted to strengthen in today's trading Monday, August 1, after closing down 0.08 percent last weekend to 6,951.12.
Artha Sekuritas analyst Dennies Christopher Jordan in his research explained that the JCI last weekend closed lower at the end of the trading session after moving in a positive area throughout the day.
"The weakening was caused by profit-taking taking advantage of the strengthening during the past week. The movement was still driven by the release season for the first semester of 2022," he explained in his research.
Dennies predicts that the JCI will strengthen today, where technically, the candlestick forms a higher high and a higher low indicating a strengthening trend. However, the range of strengthening will be quite limited, as seen from the stochastic which is in the overbought area, so it is necessary to watch out for potential correction due to profit taking in the short term.
VOIR éGALEMENT:
At the beginning of the week, investors will pay close attention to several economic data such as inflation and manufacturing data. Furthermore, Dennies estimates that the JCI will move at support levels of 6,897 and 6,924 as well as resistance at 7,005 and 7,059.
The stocks recommended by Artha Sekuritas for today include PT Summarecon Agung Tbk (SMRA), PT Media Nusantara Citra Tbk (MNCN), and PT Sarana Menara Nusantara (TOWR).
The English, Chinese, Japanese, Arabic, and French versions are automatically generated by the AI. So there may still be inaccuracies in translating, please always see Indonesian as our main language. (system supported by DigitalSiber.id)
