JCI Is Expected To Weaken On Thursday, These Are Stocks That Can Be An Option

Illustration. (Photo: Doc. Antara)

JAKARTA - The movement of the Composite Stock Price Index (JCI) is estimated to weaken in today's trading, Thursday, September 29 after closing at 7,077.03 or down 0.49 percent yesterday.

Artha Sekuritas analyst Dennies Christopher Jordan explained that the JCI closed lower yesterday driven by concerns that higher interest rates will even last until 2023. This is expected to push the economy down in the long run.

Dennis predicts the JCI will weaken again in today's trading. Technically, the long black body candlestick with low volume and stochastic formed a deadcross, but moved around the oversold area so that movement is expected to be limited.

Meanwhile, the movement will be minimal in sentiment from economic data. On the other hand, the weakening of the rupiah will still be a depressing factor.

Dennies estimates that JCI will move at support levels of 7,019 and 7,048 as well as resistance at 7,131 and 7,185. The stocks that Dennies recommends for trading today include PT Wismilak Internasional Makmur Tbk (WIIM), PT Ramayana Lestari Sentosa Tbk (RALS), and PT XL Axiata Tbk (EXCL).