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Jakarta, CNN Indonesia – Composite Stock Price Index Movement (JCI) Today, Monday (5/11), is estimated to depend on the achievement economic growth Third quarter 2018. It is expected that the Central Statistical Agency (BPS) will announce it at 11 am WIB this afternoon.
Muhammad Aji Gusta Utama, an badyst at Binaartha Sekuritas, predicts that economic growth in the third quarter of 2018 will be only 5.1%. This figure is lower than the economic growth of the second quarter of 2018, which reached 5.27%.
"If the results are better than expected, it will provide a positive catalyst for JCI," Nafan told CNNIndonesia.com on Monday (4/11).
Nevertheless, technically, Nafan estimated that JCI had the opportunity to continue to strengthen after a skyrocketing late last week, Friday (11/2). According to him, JCI is getting stronger.
"It is possible that the JCI movement will continue to grow stronger to be able to move into the Resistance Zone.The current range of action is 5,800 to 5,959," said Nafan.
For his part, William Surya Wijaya, an badyst at Indosurya Bersinar Sekuritas, said market players also needed to anticipate the release of consumer confidence index (IKK) data. In addition, the index will still be affected by the issuers' financial statements for the third quarter of 2018.
"Today, JCI has the potential to strengthen with the current range of 5,789 to 6,002 people," said William during his research.
Citing data from the Indonesia Stock Exchange (IDX), the JCI recorded a sharp rise of 2.1% last week, to 5,906, against 5,784 the previous week. The value of IDX's market capitalization also rose 2.11% to Rs.6,678 billion.
This condition is inversely proportional to the Wall Street Stock Exchange that was corrected last Friday. In the details, the Dow Jones fell by 0.43%, the S & P500 by 0.63% and the Nasdaq Composite by 1.04%.
(aud / lav)
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