Jakarta, CNBC Indonesia – The Composite Stock Price Index (JCI) closed down 0.47% to 6,614.06 on Tuesday (18/1/2022).
Movement of the JCI using the daily period (daily) of the Boillinger Band (BB) indicator via the upper limit area method (resistance) and the lower bound (support).
If you look at yesterday’s closing position, the JCI is actually below its strong support level since the beginning of 2022 at 6,623.
The next support level for the JCI is at the level of 6,600 and if it breaks to this level, the JCI has the opportunity to reach the level of 6,522.
If you look at the Relative Strength Index (RSI) indicator, the JCI is currently in the 47.74 area, still not showing overbought or oversold levels. However, the downward trend indicates selling pressure.
The RSI indicator serves to detect overbought conditions (overbought) above the 70-80 level and oversold (oversold) below the 30-20 level.
When using another technical indicator, namely the Moving Average Convergence Divergence (MACD), the EMA 12 line seems to have cut the EMA 26 line.
On the other hand, the MACD histogram bar started moving in the negative area. This could be a sign that the JCI is still open for trading today.
The index needs to pass or break one of the resistance or support levels, to see the direction of the next movement.
CNBC INDONESIA RESEARCH TEAM
(trp / dhf)
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