The Composite Stock Price Index (JCI) closed Friday's trading (10/6) with a decline of 1.34% to 7,086.64. During the week JCI corrected 1.34%.
Equity Analyst Kanaka Hita Solvera, William Wibowo observes that the JCI movement in this week is increasingly limited. JCI was stuck by the resistance at 7250 and is testing the support at the 7,050 area.
"Sentiment from the outflow of foreign funds from the Indonesian Stock Market as well as commodity price movements have colored the JCI movement this week," William explained when contacted by Kontan.co.id, Friday (10/6).
According to him, this sentiment has the potential to continue next week. This is also in line with the development of increasingly unstable global economic conditions.
MNC Sekuritas analyst Herditya Wicaksana explained that this past week the JCI movement was more influenced by global sentiment. What's more, next week there will be a meeting of the Federal Open Market Committee (FOMC).
"Investors still tend to wait and see ahead of the release of US inflation data, which according to consensus is still above 8%, this will further increase the confidence of the Fed to increase its interest rates aggressively," he said.
Then there are expectations that the European Central Bank will also raise its interest rate in July by 25 basis points. He believes that high inflation rates will cause a slowdown in the global economy and this increase in interest rates is a negative sentiment.
Based on his records, in the last week the JCI correction was in line with the foreign net inflow of Rp 1.24 trillion. As for technically, Herditya analyzed the beginning of a bearish phase in the JCI.
As for the next week, William estimates that the JCI has the potential to move in a corrective way. Based on the calculation, JCI will move in the area of support at 6,900 and resistance at 7,250.
source : https://id.tradingview.com/
