JCI Monday Prone To Correction, These Eight Stocks Can Be Payed Attention

Illustration. (Photo: Doc. Antara)

JAKARTA - The movement of the Composite Stock Price Index (JCI) is predicted to be potentially prone to correction in today's trading, Monday, July 17, after last weekend's increase of 0.87 percent or 59.35 points to 6,869.57.

The JCI strengthened 2.28 percent in the week 10-14 July 2023 period. Phintraco Sekuritas in his research said, technically, the Stochastic RSI was already in the overbought area.

"The strengthening of the JCI last Friday was not supported by a significant increase in volume. The JCI on Monday will move at the resistance level of 6880 and support 6780, with a pivot of 6830," wrote the research on Phintraco Sekuritas.

The sentiment comes from the release of a number of economic data. A global sentiment in the United States (US) released US Michigan Consumer Sentiment data on Friday night which has been projected to rise.

The increase in consumer sentiment indicates market confidence in the US economic outlook.

In addition, the increase reinforces the belief that the US benchmark interest rate is currently approaching the terminal rate at 5.5-5.75 percent, "explained research on Phintraco Sekuritas.

Sentiment dari regional, China akan merilis GDP Growth Rate YoY Q2-2023 pada Senin ini. GDP China diperkirakan meningkat 7,3 persen dari 4,5 persen YoY pada kuartal I 2023.

However, quarterly its movement is projected to slow down 0.5 percent from 2.2 percent QoQ in the first quarter of 2023.

Sentiment dari dalam negeri, pasar akan mengawasi realisasi nilai ekspor dan impor Indonesia di Juni 2023 pada Senin. Export diperkirakan terkontraksi 18,65 persen dan impor terkontraksi 7,75 persen YoY di Juni 2023.

This is the impact of the economic slowdown of a number of countries partnering with Indonesia.

The stocks recommended for today's trading include BBNI, EMTK, BBTN, GOTO, JSMR, ASII, UNVR, and MEDC.