IHSG is still strong

KONTAN.CO.ID – JAKARTA. The strengthening of the Jakarta Composite Index (IHSG) is still open today. The confidence of the issuer's financial statements should further polish the performance of the benchmark stock of the Indonesia Stock Exchange (IDX).

The potential rise in stock market indices is supported by indications that foreign investors are still buying. During the last week, buy foreign net buy about Rp 1.72 billion. Last weekend, JCI closed at 5,989, up 0.72% from the previous day and up 1.98% in one week.

Juan Harahap, an badyst at Artha Securities, badesses earlier this week that market participants are still anticipating the publication of the issuer's financial performance, particularly issuers of mining companies. . "Technically The Candlestick Index formed higher up and [furtherdown so it is still potentially strong," he said Friday.

Paramitra badyst Alfa Securities, William Siregar, also predicted that early this week, JCI is expected to further strengthen. "Market participants remain optimistic about completing the issuer's financial performance report in the second quarter," he said.

Juan continued, IHSG also had a chance to get the positive feeling from the external. On Friday, the United States released preliminary economic growth data for the second quarter of 2018 to reach 4.1% year on year (year-on-year). Growth in the second quarter was higher than the previous quarter, which was only 2%.

But this achievement is smaller than the consensus of observers, 4.2%. Last weekend, the three major Wall Street indexes closed corrected. This is a positive signal for JCI.

While according to William, the negative feelings of the outsider began to diminish. One of them, concerns about the impact of the trade wars between the United States and China that has calmed down. This happens because the United States has given a margin of maneuver to tariffs on imports of goods from China.

William's prediction, today JCI has the potential to rise and move between levels support 5,950 and resistance 6.049. While Juan calculated the index resistance range at 6.005-6.021, while the support range at 5.931-5.960.

IHSG