JCI Tuesday Continues Strengthening, This Is The Motivater Factor

Illustration. (Photo: Doc. Antara)

JAKARTA - The movement of the Composite Stock Price Index (JCI) is predicted to continue a positive trend in today's trading, Tuesday, October 25, after yesterday's gain of 0.50 percent to the level of 7,053.04. Artha Sekuritas Indonesia analyst Dennies Christopher Jordan said the projected strengthening of the JCI was driven by the release season of issuer financial performance for the third quarter of 2022. In addition, from the global side of the central bank of the United States (US) aka the Fed is predicted not to raise interest rates in November 2022. "The candlestick formed a higher high and a higher low with MACD moving into the accumulated area indicating potential strengthening," said Dennies in his research. In tomorrow's trading, Dennies predicts the JCI will strengthen with resistance at 7,084, 7,116, and support at 7,028, 7,004. Some of the stocks that received the recommendation were PT Erajaya Swasembada Tbk (ERAA), PT HM Sampoerna Tbk (HMSP), and PT AKR Corpindo TBk (AKRA). Meanwhile, Phillip Sekuritas Indonesia analyst Joshua Marcius assessed that the sentiment that could influence the JCI movement this week was the release of the US (US) gross domestic product (GDP) growth data. So, Joshua projects that the JCI will move in the support range of 6,945 and resistance of 7,138 on Tuesday. According to Joshua, interesting stocks to observe include PT Bank Central Asia Tbk (BBCA), PT Telkom Indonesia Tbk (TLKM), PT Indo Tambangraya Megah Tbk (ITMG), PT Alkindo Naratama Tbk (ALDO), PT Champ Resto Indonesia Tbk (ENAK), and PT Capital Financial Indonesia Tbk (CASA).