JCI Today Predicted to Move at Range of 6,503-6,548

INDUSTRY.co.id - Jakarta - Jakarta Composite Index (IDX) is predicted to decline on Wednesday (14/02/2018) after yesterday closed up to 6,578.

"The index's decline today is because stock trading is likely to be tested by a sell-off by market participants who are taking advantage of previous index gains," said Reza Priyambada, an analyst at PT Binaartha Parama Sekuritas, in Jakarta, Wednesday (14/02/2018).

Reza explained, JCI in trading yesterday closed up 0.84% ​​to 6,578 positions. That's because the JCI on yesterday's trade could surpass the resistance point in the range of 6,536-6,548.

Reza predicts JCI movement in today's trading will move at the support point 6.503-6.514 and 6,536-6,548 resistance point. Buying action that occurred on this day is expected to support the increase in JCI. However, the JCI will be tested for resilience to create further increases.

Reza said, JCI is expected to be supported by continuing buying action that occurred today, so that the upward trend of JCI can continue to survive. Nevertheless market participants are asked to be wary of profit taking actions that can make the JCI rise halted.

Reza said that market participants are expected to observe PT Indah Kiat Pulp and Paper Tbk (PTK) Tbk (PT Bank Tabungan Negara Tbk), PT Bank Rakyat Indonesia Tbk (BBRI), PT AKR Corporindo Tbk (AKRA) ) and PT Delta Dunia Makmur Tbk (DOID). (Abraham Sihombing)