JCI Thursday Is Predicted To Strengthen, These Seven Stocks Are Recommended

Illustration. (Photo: Doc. Antara)

JAKARTA - The movement of the Composite Stock Price Index (JCI) is projected to strengthen back in today's trading, Thursday, April 13, after weakening 0.16 percent yesterday to the level of 6,789.96.

Phintraco Sekuritas in its research predicts the JCI will rebound today in the resistance range of 6,835, pivot 6,800, support 6,750. Along with a number of external positive sentiments. Technically, the JCI has again formed a long lower-shadow today.

"Stochastic RSI has the potential to form a golden cross in the oversold area range, maintaining the rebound opportunity," wrote Phintraco Sekuritas.

Phintraco Sekuritas added that the JCI today is most likely supported by market responses to US inflation data. The weakening of the US dollar index will most likely be followed by the continued strengthening of the Rupiah exchange rate today.

"This widens the space for BI to re-maintain benchmark interest rates at the current level (5.75 percent) or potential terminal rates at 6 percent," added Phintraco Sekuritas.

Domestically, Phintraco Sekuritas explained, retail sales grew 0.6 percent yoy in February 2023 from a contraction of 0.6 percent yoy in January 2023. This condition strengthens the belief that domestic consumption is still strong and has the potential to maintain the pace of economic growth in 2023.

Phintraco Sekuritas recommends seven stocks to be collected today. The seven shares are BMRI, AMRT, EXCL, ESSA, ADMR, UNVR and IMPC.