JAKARTA - The movement of the Composite Stock Price Index (JCI) is projected to weaken today, Thursday, September 22, after yesterday's decline of 0.12 percent or 8.64 points to 7,188.31.
Yugen Growing Sekuritas CEO William Surya Wijaya said the JCI in today's trading still has the potential to weaken. William observed that after the JCI scored an all-time high some time ago, the JCI is currently still in a normal consolidation phase with a relatively large pressure pattern.
"Meanwhile, ahead of the release of the United States interest rate announcement, the momentum of a natural correction for the JCI will still be seen. This can be used by investors to accumulate investment purchases in the medium and long term, which are still on an upward path," William said in his research.
William projects that the JCI will move in the range of 7,123-7,273 today.
For information, in this week the JCI has accumulated a decline of 1.23 percent. Meanwhile, the decline in the JCI in the last month was only 0.09 percent.
VOIR éGALEMENT:
Meanwhile, Artha Sekuritas analyst, Dennies Christopher Jordan, said yesterday that the JCI closed lower since the beginning of the trading session because investors anticipated an increase in the Fed's interest rate which might reach 100 bps this month.
Technically, he said, the doji candlestick with the stochastic widening and dropping to the oversold area indicates potential weakness with the range of weakness starting to be limited with resistance 2 at 7.245-7,216 and support 1 at 7.146-7.105 on Thursday (22/9).
"Investors will pay close attention to the Fed's interest rate policy and anticipate Bank Indonesia's interest rate policy that could affect the economy," he said in his research.
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