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Jakarta, CNBC Indonesia – The Composite Stock Price Index (IHSG) advanced into positive territory from the morning until the close of the first trading session on Wednesday (2/3/2021), thus managing to return to the psychological level of 6,100.
The benchmark index of the national stock market strengthened 79.9 points or + 1.32% to 6,123,734. A total of 292 stocks rose, 161 were under pressure and another 153 flat.
However, stock trading fell back with just over 10 billion shares traded, up 885,000 times.
The value of the stock exchange transaction also decreased slightly to Rp 8.9 trillion, in which foreign investors registered net purchases (Net purchase) up to IDR 138.8 billion in the regular market, which shows that they are now eager to search for assets.
At the morning open, JCI rose 0.87% to the 6,096.58 level. After 20 minutes, it was observed that the JCI had risen 0.7% to the level of 6,087.32 trying to get back above the psychological level of 6,100 and finally broke before 10:00 WIB.
Previously, a nickel producer’s actions related to the battery project were corrected after the Tesla team postponed the plan to inspect the battery factory construction due to restrictions on the arrival of foreign nationals (WNA) .
However, the government insists that they do not cancel the plan, but only postpone it due to technical problems related to health protocols due to the pandemic. This brought back the optimism of the market, especially since Tesla was not the only potential partner.
The market is currently waiting for the advances of the vaccination program because the government continues to register an increase in Covid-19 cases so Indonesia will break the 1.1 million cases or the highest in Asia, surpassing India.
 Photo: Technical Analysis Session 2, February 3, 2021 / Tri PutraTechnical Analysis Session 2, February 3, 2021 / Tri Putra |
Technical analysis
JCI movement using the hourly (hourly) period of the Boillinger Band (BB) indicator via the upper bound (resistance) and lower bound (support) area method.
Currently, JCI is in the upper limit area, so JCI’s next move has the potential to be appreciated.
To convert the bias to bullish or strengthening, it is necessary to pass the resistance level that is in the area of 6.194. Meanwhile, to continue the downtrend or decline, it is necessary to pass the support level in the 6,087 area.
The Relative Strength Index (RSI) indicator is a momentum indicator that compares the amount of current price rise and fall over a period of time and serves to detect overbought conditions above the 70-80 level and oversold below the 70-80 level. level 30 20.
The RSI is currently in the 60s area, which, while not yet showing an overbought indicator, is consolidating after hitting the oversold level, generally indicating that JCI has the potential to move up.
In general, through a technical approach with BB indicators located in the lower bound area, further movement tends to bullish or appreciated. This is also confirmed by the upward reconsolidation of the RSI indicator.
The index must pass (break) one of the resistance or support levels to see the direction of the next move.
CNBC INDONESIA RESEARCH TEAM
[Gambas:Video CNBC]
(trp / trp)
