Jakarta, CNBC Indonesia – The Jakarta Composite Index (JCI) on Friday (12/3/2021) is expected to move higher, driven by positive sentiment from the United States.
The US House of Representatives has approved an economic stimulus worth US $ 1.9 trillion, equivalent to Rp. 27,000 trillion (exchange rate Rp. 14,000 / US $) and President Joe Biden has signed the bill.
Last Wednesday, JCI able to re-enter the green lane before the Thursday Isra Mikraj holiday (11/3) after weakening for 4 consecutive days. IHSG closed up 1.05% to 6,264.68 at the close of the second session.
Meanwhile, from a technical perspective, the index movement is predicted to be in the area oversold so that strengthening is a matter of time.
A number of securities have provided share recommendations that are worth considering before today’s trading, Friday (12/3) opens.
MNC Sekuritas – Index Will Increase Limited
JCI is expected to be able to move higher, although it is quite limited, to test the 6,280-6,300 area first. As long as the JCI is not corrected below 5,735, we estimate that JCI correction will tend to be limited in the range of 5,950-6,100 (red scenario). However, if the JCI is corrected aggressively to below 5,735, then the JCI correction is expected to head towards 5,600.
Preferred stock:
INCO
UNVR
JSMR
Artha Sekuritas – Oversold Start Index
JCI is predicted to strengthen. Technical indicators stochastic forming golden cross around the area oversold (oversold) indicates the potential to continue strengthening. The movement at the weekend will be lacking in sentiment.
Preferred stock:
KRAS
CTRA
INDF
Reliance Sekuritas Indonesia – JCI Predicted to Strengthen
Technically the JCI is moving whipsaw at the level support (lower limit) 50-day mean and and 20-day mean with indication of short-term reversal. Stochastic indicator is moving potentially golden-cross with RSI moving in reversal of momentum, so that JCI has the potential to continue strengthening at the end of the week.
Preferred stock:
ACST
ANTM
BBCA
DOID
Samuel Sekuritas Indonesia – SIdeways Index
JCI stuck at the level support 6,150-6,200. Technically, market tends to move sideways during long weekend.
Preferred stock:
SMRA
DOID
TLKM
BFIN
(bag bag)
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