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JAKARTA - The movement of the Composite Stock Price Index (JCI) has the opportunity to continue strengthening today, Thursday 10 November along with the arrival of a number of new issuers this week, the financial performance of the third quarter of 2022, and the release of economic data in the country.

Yesterday, the JCI closed up 0.28 percent or 19.95 points to 7,070.08. Throughout the session, the JCI fluctuated in the range of 7,037.3 to 7,073.55.

CEO of Yugen Bertumbuh Sekuritas, William Surya Wijaya, said the development of the JCI movement still looks comfortable in the range of consolidation, while the sideways pattern is still overshadowed by the potential for considerable pressure.

"However, the release period of the issuer's performance report in the third quarter is expected to provide positive sentiment so that it can support the JCI movement for some time to come," he explained in the research.

According to him, today the JCI has the potential to strengthen in a limited range of 6,954-7,172. The stock recommendations of choice are BBCA, ASII, GGRM, BBNI, AKRA, TBIG, and CTRA.

Meanwhile, Samuel Sekuritas analyst William Mamudi said the JCI (7,070) formed prolonged dojis while testing the 7,000 flip level. Potential breakout level 7110 with the target of major resistance 7300.

"Today, Technical Analysts like BBYB, TINS, EMTK stocks with a buy trading rating, INDY with a sell trading rating," he said.


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