Wall Street closed last weekend (24/09) mixed, with the Dow Jones and S&P500 slightly higher. Market movements were supported by cyclical sectors, in line with the return of optimism for economic growth. Meanwhile, stocks related to digital currencies are back under pressure, along with the Chinese government’s decision to ban crypto trading activities.
Meanwhile, JCI finally ended a volatile week in the green zone; with foreign net buys reaching IDR 2.39 trillion. Despite the lack of new sentiment at the end of the month, market conditions looked quite conducive after the Federal Reserve signaled the start of Tapering-off in November. Technically, JCI has the opportunity to strengthen again towards the resistance level with a range of 6,100-6,250.
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