The JCI Is Predicted To Weaken On Wednesday, These Stocks Can Be Observed By Investors

Illustration. (Photo: Doc. Antara)

JAKARTA - The movement of the Composite Stock Price Index (IHSG) is predicted to tend to be bearish on Wednesday, May 17 trading. However, a number of stocks can be observed by investors.

Yugen Bermbuh Sekuritas CEO William Surya Wiyaja said that the JCI movement is currently going through a normal correction phase. The nearest support level is being tested again for its strength.

"The strong fundamentals of the Indonesian economy have also contributed to the movement of the JCI, this can be seen from the economic data that has been published some time ago," he explained in his research.

Apart from that, the recorded capital inflow throughout 2023 also shows the confidence of foreign investors in the Indonesian capital market.

William predicts that today the JCI will move in the range of 6.636-6.789. The preferred stock recommendations are SMGR, BBRI, INDF, UNVR, JSMR, ICBP, ASII.

JCI closed lower to 6.676.56 at the close of trading, Tuesday, May 16. During trading the composite index moved in the range of 6.729.07 to 6.659.07.

A total of 200 stocks rose, 347 stocks weakened and 197 stocks were stagnant. Shares are traded with a total value of IDR 8.32 trillion in 1.23 million transactions, the market capitalization is also recorded at IDR 9.503.92 trillion.

The majority of sectoral indices were observed to fall. The industrial sector weakened 0.17 percent, the non-cyclical sector weakened 0.23 percent, the property sector weakened 0.75 percent, the cyclical sector weakened 0.94 percent, the infrastructure sector weakened 1.04 percent, finance fell 0.74 percent, the energy sector fell 1.19 percent, the basic industrial sector fell 1.60 percent, transport fell 2.12 percent and technology weakened 1.31 percent.