TEMPO.CO, Jakarta - An analyst from Asjaya Indosurya Securities, William Suryawijaya, predicts that the Jakarta Composite Index (JCI) will cease to be swayed by the political uncertainties surrounding the 2014 presidential election as the Constitutional Court (MK) is slated to announce its ruling on the election result dispute case this afternoon.
"The JCI will hover around 5,160-5,236 points," said William on Thursday, 21 August 2014.
Supported by a healthy capital inflow, JCI reached new heights for 2014, closing at a record high at the end of trading yesterday.
According to William, this can signify JCI's potential to exceed its highest resistance level throughout its recorded history. "Support level is currently at 5,160 points," he said. Resistance is currently at 5,236 points.
"Healthy corrections to the index will drive long-term investors to start accumulating shares," added William, as long-term investments at the JCI continues its uptrend.