JCI Predicted to Strengthen Due to Heavy Capital Inflows

Jakarta, Armfalcon.com —

Price index Share combined (JCI) is projected to continue strengthening in trading this Thursday (11/5).

Binaartha Sekuritas analyst Ivan Rosanova said that technically the stock index will continue strengthening and testing the resistance level at 6,881.

“JCI is moving below the immediate resistance at 6,825, where a rise above it will open the way to 6,853 or even test the next Fibonacci resistance at the 6,881 level,” said Ivan as quoted from his daily research.

He also projects that the JCI will move in the range support 6706 and resistance 6,825 today.

Meanwhile, Yugen Bermbuh Sekuritas CEO William Surya Wijaya said that the JCI has limited potential to strengthen today.

According to him, the increase that occurred in the pattern of movement of the stock index looks still technical rebounds.

“Apart from that, the movement of the JCI was also supported by heavy capital inflows which are still occurring year to date,” added William.

He also predicts the stock market will move in a range support 6726 and resistance 6,878 today. William recommended a number of stocks, namely TLKM, BBNI, UNVR, BMRI, AALI, BSDE and ITMG.

Previously, the JCI closed up 31.92 points or 0.47 percent to a level of 6,811 at the end of trading last Wednesday.

Investors made transactions of IDR 9.07 trillion with 20.32 billion shares traded.

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