JAKARTA - The Composite Stock Price Index (IHSG) is predicted to continue strengthening in trading today, Thursday 23 November. Phintraco Sekuritas in its research estimates that JCI will trade at resistance 6,950, pivot 6,900, support 6,860.
Phintraco Sekuritas explained that today's JCI is expected to tend to continue weakening to close the gap to the range of 6,860-6,880, if it breaks low at 6,900.
"Technically, the potential for weakening is based on the formation of a death cross on the MACD along with the weakening on Wednesday, November 22," wrote Phintraco Sekuritas.
Phintraco Sekuritas added that indications of profit-taking in infrastructure stocks, especially in the renewable energy segment, were one of the factors that triggered the weakening of the JCI on Wednesday.
"Be aware of the potential for further weakening in these shares today," explained Phintraco Sekuritas.
VOIR éGALEMENT:
On the other hand, Phintraco Sekuritas added, bank shares, especially large-capitalization banks, tended to strengthen and support the JCI on Wednesday 22 November. BI's expectation of holding its benchmark interest rate at 6 percent on Thursday could encourage a further rebound in bank shares today.
Phintraco Sekuritas recommends five shares for today, namely BBCA, BMRI, AMRT, ISAT, and EXCL.
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