The Jakarta Composite Index (JCI) is projected to weaken during Friday’s trading session (May 29), with analysts anticipating a movement within the 6,060 to 6,081 range. This outlook follows a decline in the previous session on Tuesday (May 26), where the index closed 76.159 points or 1.23 percent lower, settling at 6,130.190.
According to M. Nafan Aji Gusta, Senior Technical Analyst at Mirae Asset Sekuritas Indonesia, the market sentiment remains cautious. “Technically, the formation of a black closing bozu candle suggests that a bearish consolidation phase is in effect, despite the JCI’s previous rebound from wave 5/A,” he explained on Friday. Based on this technical outlook, Mirae Asset Sekuritas has issued recommendations for investors to monitor BRMS, HRTA, and MARK.
In a similar vein, MNC Sekuritas anticipates further downward pressure for the JCI. Their projections indicate that the index may slide toward the 5,899 level during Friday’s trading session.
“We estimate that the next correction phase will test the 5,899 level, which also serves as a crucial support area,” the firm stated in its morning note. Reflecting this cautious stance, MNC Sekuritas has highlighted BBTN, BREN, BRPT, and EMAS as stocks to watch for the day.
Disclaimer: All investment decisions are the sole responsibility of the reader. This article is intended for informational purposes only and does not constitute a solicitation or recommendation to buy, hold, or sell any specific investment product.
Summary
The Jakarta Composite Index (JCI) is expected to experience downward pressure during Friday’s trading session, following a decline in the previous session to 6,130.190. Analysts from Mirae Asset Sekuritas project the index to move within the 6,060 to 6,081 range, while MNC Sekuritas warns of a potential further slide toward the 5,899 support level.
Market sentiment remains cautious due to technical indicators suggesting a bearish consolidation phase. Investors are advised to monitor specific stock picks, including BRMS, HRTA, MARK, BBTN, BREN, BRPT, and EMAS, though all investment decisions remain the responsibility of the reader.