JAKARTA - The movement of the Composite Stock Price Index (JCI) is expected to continue strengthening in today's trading, Monday, March 27, after last weekend's gain of 79.12 points (1.20 percent) to the level of 6,691.61.
Phintraco Sekuritas in his research said that today's JCI is predicted to be at the resistance level of 6,790 and support at 6,700.
The market participants' positive response to the results of the FED FOMC in March prompted the strengthening of sensitive stocks on the Indonesia Stock Exchange (IDX) on Friday (24/3). The Fed has raised the benchmark interest rate of 25 bps to 5 percent and clue that the interest rate increase will end.
Still from external, market participants are watching the statement of the US Treasury Secretary, Janet Yellen, who said that the United States could take additional action if needed to stabilize banks in America. This is expected to affect the Fed's decision on the benchmark interest rate until the end of 2023.
"The dovish signal from the Fed also supported the strengthening of the rupiah exchange rate last Friday. The rupiah exchange rate rose 1.24 percent to the level of IDR 15,150 per US dollar," explained the research by Phintraco Sekuritas.
Technically, the positive scale widening of the MACD also indicates that the JCI will continue strengthening at the beginning of the week. The selected stock menus at the beginning of the week include AALI, BBNI, SMGR, UNVR, BBCA, ASII, ITMG, and AKRA.
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