After the Eid holiday, JCI is predicted to continue rebounding

JAKARTA – The Composite Stock Price Index (IHSG) after the Eid holiday is predicted to strengthen again. In the last trading session last Friday (5/4), the JCI was recorded to have strengthened 0.45% to the level of 7,286.

Vice President of PT Infovesta Utama Wawan Hendrayana assesses that the IHSG at the current level is very reasonable. He also believes that there is still a chance for the JCI to strengthen again. Reflecting on the last 10 years, he said, post-Eid IHSG has always been positive.

“Because in the last 10 years after Lebaran the IHSG has always been positive, an average of 1.5%. Yes (the chance of strengthening) so based on history,” said Wawan, quoted on Sunday (14/4/2024).

Meanwhile, Bahana Sekuritas Head Unit Investment Specialist James Evan Tumbuan estimates that, in general, the JCI will test the support level area of ​​7,176 and resistance at the 7,320 level.

It is known that the IDX has declared a stock trading holiday from Monday (8/4/2024) to next Monday (15/4/2024) in connection with the Public Holiday for Idul Fitri 1445 H and Eid Al-Fitr 1445 H. Stock trading will start again on Tuesday ( 4/16/2024).

Based on IDX records, during the last trading week before the Eid holiday (period 1-5 April 2024) the JCI closed slightly lower by 0.03% to 7,286,882. However, in the same period, the average daily transaction value (RNTH) rose quite high by 10.11% to IDR 12.41 trillion.

(fjo)