ILLUSTRATION. Investors observe the movement of shares through digital channels on the Indonesia Stock Exchange, Jakarta. (KONTAN / Carolus Agus Waluyo)
Reporter: Nur Qolbi | Editor: Herlina Kartika Dewi
KONTAN.CO.ID – JAKARTA. The Composite Stock Price Index (IHSG) is predicted to continue strengthening in trading Monday (22/2). At the end of last week, the JCI closed up 0.51% at 6,231.93 after two days of correction.
Artha Sekuritas analyst Dennies Christoper Jordan estimates, JCI tomorrow will strengthen with resistance 1 at the level of 6,250 and resistance 2 at 6,269. Meanwhile, support 1 is predicted to be at the level of 6,192 and support 2 at 6,153.
According to Dennies, technically, candlestick forming hanging man which indicates potential rebound in the short term.
“Movements at the beginning of the week are still less sentiment from within, while from the global will be affected by the setting of the Bank of China mold interest rate,” said Dennies.
Sucor Sekuritas analyst Hendriko Gani also predicts that the JCI on Monday (22/2) has the potential to gain limited strength to test minor resistance at the level of 6,280 with support of 6,200. According to him, the sentiment of the movement still comes from the release of the issuer’s financial statements.
Also Read: Up 0.15% this week, following the JCI projections next week
On the other hand, Phintraco Sekuritas analyst Valdy Kurniawan estimates that JCI will fluctuate with a correction tendency. The support- resistance is in the range 6.150-6,280.
According to him, technically, the Stochastic RSI is still moving down with a tendency to test the 50 pivot level. In addition, there is a potential for a death cross between MA5 and MA20 if JCI is unable to maintain its position above the 6,200 pivot level.
Apart from technical considerations, market players are waiting for a number of important external data, such as the Markit Manufacturing PMI Flash for the UK, Germany and the United States, then Germany’s economic growth rate for 2020, as well as German consumer confidence data for March 2021.
“Meanwhile, from within the country, the development of Covid-19 vaccination efforts will again become one of the focuses of market players,” said Valdy.
According to him, interesting stocks to observe on Monday’s trading (22/2) are ANTM, BBRI, KLBF, MIKA, and TOWR.
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