JAKARTA - The movement of the Composite Stock Price Index (JCI) is predicted to weaken for today's trading, Tuesday, August 23, after yesterday's gain of 0.23 percent or 16.03 points so that it parked at the level of 7,102.88.
Artha Sekuritas analyst Dennies Christopher said the JCI closed lower in yesterday's trading, overshadowed by concerns over the weakening of European and American stock markets at the end of last week due to fears of inflation.
On the other hand, Dennies said that domestic investors tend to be conservative ahead of setting Bank Indonesia interest rates.
As for today's trading, Dennis predicts the JCI will weaken. He explained technically the candlestick, JCI formed a lower high and a lower low with the stochastic widening after forming a deadcross indicating a potential weakening.
"On the other hand, investors will tend to wait and see waiting for the results of the Bank Indonesia Board of Governors' Meeting (RDG) in the middle of this week," said Dennies in his research.
Artha Sekuritas estimates JCI will move with support at 7,060 and 7,013 and resistance at 7,157 and 7,207. The stocks that can be observed are PT Indika Energy Tbk (INDY), PT Timah Tbk (TINS), and PT Sarana Menara Nusantara Tbk (TOWR).
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