JCI Rebound, Check Stock Projections and Recommendations on Wednesday (6/7) Trading

ILLUSTRATION. JCI Rebound, Check Stock Projections and Recommendations on Wednesday (6/7) Trading

Reporter: Yuliana Hema | Editor: Novice Laoli

KONTAN.CO.ID –  JAKARTA. Composite Stock Price Index (JCI) potentially return rebound on Wednesday (6/7). The JCI closed today’s trading, Tuesday (5/7), with an increase of 0.97% to 6,703.26.

Henan Putihrai Sekuritas Senior Technical Analyst, Liza Camelia explained, the selling pressure on the JCI was in order to cool down in line with expectations, in the midst of the US stock market holiday.

He added, technically the JCI has reached the area support from level previous low in the area of ​​6,600-6,500. On the other hand, many stocks have also arrived in the area support in the long run.

“Strategy Buy on Weakness and a gradual buy position is still the wisest thing to do. Remember that many stocks fall deeply, so use MA10 first as the closest price target,” explained Liza to Kontan, Tuesday (5/7).

Also Read: JCI rebounded 0.97% to the level of 6,703 at the close of trading Tuesday (5/7)

For tomorrow’s trading, Liza estimates that volatility will still be high. He said investors should understand if the bumpy road still looms ahead.

Meanwhile, Equity Analyst Kanaka Hita Solvera William Wibowo assessed that the weakening of the rupiah exchange rate and the rising level of PPKM in Greater Jakarta had the potential to affect the JCI tomorrow.

“In addition, the threat of a global recession in the second semester is considering that many countries are experiencing an energy and food crisis,” he said.

William predicts that the JCI will support 6,500 days resistance 6,800. For tomorrow’s trading, investors can watch the sector consumer non-cyclical, health and infrastructure.

Also Read: Check out PWON, FILM, and TBIG Stock Recommendations for Trading Wednesday (6/7)