KONTAN.CO.ID – JAKARTA. There is a joint leave, the capital market trading at the Indonesia Stock Exchange (IDX) will only last two days next week. Analysts predict, the Composite Stock Price Index (IHSG) are still vulnerable to correction.
MNC Sekuritas analyst Herditya Wicaksana estimated that on Monday (26/10) the JCI was still vulnerable to correction. If it strengthens, Herditya estimates the JCI movement will test resistance at the level of 5,130 first.
The sentiment that influenced the JCI movement on Monday (26/10) was still dominant from external factors, where investors were still watching the fiscal stimulus in the United States (US). Earlier, White House Chief of Staff Mark Meadows said the current stimulus package proposed by the White House rose to US $ 1.9 trillion. The Congressional Committee is currently discussing this package and the technicalities of the disbursement package.
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However, the Speaker of the United States House of Representatives, Nancy Pelosi, said there is still hope for the fiscal stimulus to be passed before the momentum of the Presidential Election (Pilpres) on November 3. However, this opportunity is quite small because members of the senate and the Republican Party still reject the size of the stimulus package.
“Meanwhile, domestic sentiment is more about the long holiday factor at the end of October,” explained Herditya to Kontan.co.id, Sunday (25/10).
Herditya projects that the JCI will be corrected in the range of 5,080-5,130. As for Monday’s trading, investors can watch property and construction stocks to do buy on weakness (BoW) such as shares of PT Waskita Karya Tbk (WSKT), PT Alam Sutera Realty Tbk (ASRI), and PT Pakuwon Jati Tbk (PWON).
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