JCI is projected to strengthen on Monday (29/3), according to analyst recommendations

ILLUSTRATION. Investors cross in front of the stock movement board on the Indonesia Stock Exchange, Jakarta./pho KONTAN / Carolus Agus Waluyo.

Reporter: Akhmad Suryahadi | Editor: Herlina Kartika Dewi

KONTAN.CO.ID – JAKARTA. The Jakarta Composite Index (JCI) is projected to continue strengthening on Monday (29/3).

Phintraco Sekuritas analyst Valdy Kurniawan said at the same time technical rebound on Friday (26/3), JCI formed a morning star doji pattern as a minor signal bullish reversal.

If it stays above the level of 6,180, JCI has the opportunity to test the resistance 6,250. Apart from technical factors, the JCI movement will be influenced by the response of market players to a number of economic data released this weekend.

Among these are the Personal consumption expenditures (PCE) price index Index data for February 2021 and the Michigan Consumer Sentiment Final for March 2021. “These two data can be indicators of economic conditions in the United States (US) that have the potential to affect the movement of US Bond Yields, “Explained Valdy, Friday (26/3).

Also Read: These are a number of sentiments that will affect the JCI’s movement in the second quarter of 2021

From the region, China released data on industrial profits for February 2021. Meanwhile, domestically, market players are waiting for the March 2021 inflation data. Bank Indonesia (BI) estimates that inflation will be 0.09% on an annual basis. month-on-month (mom) or 1.37% year-on-year (yoy) in March 2021. For information, inflation in February 2021 is 1.38% yoy.

JCI is expected to move with support at 6,070 and resistance at 6,250 on Monday (29/3) trading.

Indosurya Bersinar Sekuritas Director William Surya Wijaya assessed that the JCI movement currently looks like it is going through a technical phase. rebound after a reasonable correction some time ago. However, the strong fundamentals of the Indonesian economy also contributed to the increase in the JCI.

It’s still on record capital inflow ytd also still shows investor confidence in the Indonesian capital market. William’s projection, JCI has the potential to move in the green zone with a range of 6,078 – 6,202.

As for stocks that can be monitored for tomorrow’s trading, among others ICBP, ASII, ITMG, BBCA, AKRA, SMRA,and LSIP.