JCI Friday Is Prone To Correction, This Is A Row Of Stocks That Can Be Payed Attention To

Illustration. (Photo: Doc. Antara)

JAKARTA - The movement of the Composite Stock Price Index (JCI) is expected to be prone to correction in today's trading, Friday, May 26. The JCI weakened after 4 consecutive days in the green zone.

JCI fell 0.62 percent or 41.573 points to the level of 6,704,231 at the close of trading on Thursday, May 25. Phintraco Sekuritas in his research predicts Friday's JCI will be prone to further corrections with a pivot at the level of 6,700.

"If the JCI breaks down at the level of 6,700, there will be potential for further corrections with support at the level of 6,660 on Friday. Technically, the RSI Stochastic forms a death cross in the overbought area," explained the technical research Phintraco Sekuritas.

The JCI movement on Friday was influenced by domestic and foreign sentiment. Domestically, the JCI was influenced by a decrease in the growth of the Indonesia Banking Sector (SPI) to 8.08 percent YoY in April 2023. Previously, the SPI was at 9.93 percent YoY in March 2023.

In addition, RDG BI also decided to return to holding the benchmark interest rate at the level of 5.75 percent.

"Although the BI benchmark interest rate is currently far above inflation and the Rupiah exchange rate is relatively stable, the risk of increasing the Fed's benchmark interest rate is still quite large," explained Pintraco's research.

Meanwhile, external sentiment came from Germany's economic contraction of 0.5 percent YoY in the first quarter of 2023 from growth of 0.8 percent YoY in the fourth quarter of 2022.

The stocks that are accommodated by Phintraco Sekuritas for trading this Friday include ACES, UNVR, INTP, TBIG, DEWI, BRIS, ERAA, and AUTO.