JCI Is Predicted To Strengthen On Friday, These Seven Stocks Are Recommended

Illustration. (Photo: Doc. Antara)

JAKARTA - The movement of the Composite Stock Price Index (JCI) is predicted to strengthen again in today's trading, Friday, April 28, after yesterday's increase of 0.51 percent or 35.33 points to the level of 6,945.477.

Phintraco Sekuritas in his research said that the JCI was indicated to be overbought along with last Thursday's strengthening.

"In addition, the formation of a long upper shadow before closing in the resistance range of 6,940 strengthened the potential pullback on Friday," explained Pintraco Sekuritas research.

The shares of the bank that have been the mover of the JCI in the last few days are indicated to be overbought. This condition has the potential to trigger pullback on the JCI on Friday.

However, the medium-long sentiment in this sector is still positive, especially if the FED FOMC Thursday, May 4, decides to maintain a benchmark interest rate increase of 25 bps.

Furthermore, from within the country, market participants anticipate the realization of Indonesia's economic growth in the first quarter of 2023 which is estimated at 5-5.3 percent. This means that the impact of the decline in commodity prices can be substituted by strong domestic consumption in the first quarter of 2023.

The stocks recommended in today's trading include UNVR, ICBP, ERAA, ACES, TLKM, SIDO, and KLBF.