JCI Thursday With Strong Potential Potential, This Is The Motivater Factor

Illustration. (Photo: Doc. Antara)

JAKARTA - The movement of the Composite Stock Price Index (JCI) is predicted to be able to rebound in today's trading, Thursday, November 17, after closing down 0.30 percent yesterday to 7,014.38.

Yesterday, foreign investors recorded net sales of IDR 1.33 trillion in all markets with the largest net sell shares of BBCA, TLKM, BBRI, and BMRI.

Research Analyst Artha Sekuritas Indonesia Dennies Christopher Jordan saw the weakening of the JCI yesterday driven by profit taking action to take advantage of the strengthening that occurred in the previous day's trading.

Technically, the candlestick formed a hanging man with a stochastic approaching the oversold area. This technical plot indicates the potential for JCI strengthening.

Meanwhile, Dennies estimates that the JCI will move in the support area of 6,964-6,914 today. Meanwhile, the resistance area is estimated to be at 7,055-7,096.

"The market movement will be driven by optimism from sloping US inflation. From within the country, the dividend distribution of several issuers will be encouraged," said Dennies in his research.

Meanwhile, Research & Consulting Manager of Infovesta Utama Nicodimus Kristiantoro highlighted that today's weakening of the JCI was influenced by sentiment increasing market risks to several issues.

In the global realm, sentiment comes from the reheating of the post-missile geopolitical conflict that hit Poland. From within the country, market participants are looking forward to the results of the Bank Indonesia Board of Governors' Meeting (RDG BI) regarding interest rates.

Nico estimates that tomorrow's market direction will depend on the results of the BI RDG. He projects that there will be an increase in interest rates by 25 basis points (bps) or smaller than the previous month's increase.

"The market is waiting for the latest statement from the Governor of BI. If the results are in accordance with the consensus and tend to be dovish, it will be a positive catalyst for the market," said Nico.