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The following is the JCI Prediction, Monday (28/11), External Sentiment Will Dominate

The following is the JCI Prediction, Monday (28/11), External Sentiment Will Dominate

Andrianus.my.id - Medan . External sentiment will dominate the movement of the Jakarta Composite Index (IHSG) on Monday (28/11). Senior Investment Mirae Asset Sekuritas Indonesia Muhammad Nafan Aji said market players were still watching the increase in Covid-19 cases in China.

As is known, China is experiencing a surge in Covid-19 cases. The Chinese National Health Commission reported an additional 39,791 new cases of Covid-19 in China on Saturday (26/11). This is the highest addition of cases in China in four consecutive days.

"Meanwhile, there is no economic data that has a high market impact," explained Nafan to Kontan.co.id, Sunday (27/11). Thus, Nafan predicts, the JCI on Monday (27/11) will move within the range of support 7,022 and resistance 7,087.

Panin Sekuritas analyst Christian Anderson Yuwono said investors were still watching the release of the Fed's meeting which showed good progress in normalizing the inflation rate. Domestic investors are still watching the Fed's next decision, even though they see that inflation is starting to fall indicating a more dovish interest rate policy.

"The JCI projection on Monday (28/11) is at the support level of 6,966 and resistance at 7,100," said Christian, Sunday (27/11). Investors can look at BBRI, MLPL, WIKA, HMSP, and JKON shares.

Binaartha Sekuritas analyst Ivan Rosanova projects that the JCI will move within the support range of 7,000 and resistance at 7,100. He agreed that market sentiment was still dominant from outside, namely related to the lockdown policy in China and the release of a number of economic data in Europe and the United States (US).

As an illustration, the JCI closed down 0.39% to a level of 7,053.150 on Friday trading (25/11). This weakening complements the JCI movement which corrected 0.41% so far this week. However, foreign investors recorded foreign net buys of IDR 999.76 billion this week.

In Ivan's view, next week the JCI is likely to move close to the 7,100 resistance which is still trying to be penetrated. This condition indicates that market participants are still waiting and seeing with limited buying action, but there is also no significant selling pressure.


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