JCI is expected to be sluggish at the weekend

Jakarta, Armfalcon.com —

Index Price Share combined (JCI) is expected to be sluggish in trading on Friday (28/4).

However, Yugen Bermbuh Sekuritas CEO William Surya Wijaya said the weakening would be temporary. The reason is, next week which is the beginning of the month there will be the release of inflation data which he estimates will provide positive sentiment for the movement of the JCI.

However, the potential for correction still needs to be watched out for.

“Momentum for minor corrections can be used by investors to make accumulated purchases. Today the JCI has the opportunity to be under pressure,” William said as quoted from his daily research.

Because of that sentiment, he predicts the stock index will move in a range support 6767 and resistance 6,955.

For preferred stocks, William recommends BBCA, BBRI, BBNI, ITMG, WTON, SMRA, ASRI and PWON.

Meanwhile, Binaartha Sekuritas analyst Ivan Rosanova sees the JCI should continue the phase uptrend towards the next Fibonacci resistance at 7.059.

“Levels support JCI is at 6,878, 6,828, 6,800 and 6,765, while the resistance levels are at 7,006, 7,059 and 7,128. Based on the MACD indicator signals momentum bullish,” Ivan said.

Today, Ivan’s preferred stock is ADRO (hold), ARTO (speculative buy), BBCA (hold), BMRI (trading buys), and EMTK (buy on weakness).

JCI closed at 6,944 on Thursday (27/4) afternoon. The stock index gained 34,424 points or plus 0.50 percent from the previous trade.

Quoting RTI Infokom, investors made transactions of IDR 10,173 trillion, with a total of 22,511 billion shares traded.

At this closing, 289 stocks rose, 234 corrected, and 207 others stagnated. It was observed that 7 out of 11 sectoral indices strengthened, led by the transportation sector by 1.52 percent. While 4 other sectors weakened led by basic raw materials which fell 0.36 percent.

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(fby/agt)