Check Out The Series Of Sentiments That Will Influence The JCI Today

Illustration. (Photo: Doc. Antara)

JAKARTA - The Composite Stock Price Index (JCI) closed down 40.62 points or 0.59 percent to 6,859.91 at the end of trading Friday, August 18. Launching RTI, JCI weakened 0.48 percent in this week.

Phintraco Sekuritas in his research said the JCI is expected to re-test support for 6,830 in trading Monday, August 21.

"Technically, a negative slope expansion was formed in MACD, as well as a death cross in Stochastic RSI," explained the research of Phintraco Sekuritas.

From abroad, based on S&P Global data, new home sales for the top 100 developers in China fell by around 33 percent YoY in June and July 2023.

The potential for default Country Garden raises concerns over the property market in China. However, the potential for default is expected to have a limited impact on China's economy.

"Because China's economic condition is still good. For information, China's foreign exchange reserves were recorded at 3.2 trillion US dollars at the end of July 2023," he said.

From within the country, there is sentiment that will be held at the Board of Governors of Bank Indonesia (BI) Meeting on August 24.

The domestic economy is still conducive. However, global economic uncertainty reduced investor optimism for BI policy, with the spread of BI and the Fed's nearly zero interest rates.

Even so, the rupiah exchange rate since the beginning of 2023 has recorded a gain of 3.63 percent.

Meanwhile, Phintraco projects that the JCI will move at the resistance level of 6,950 and support 6,830, with a pivot at 6,880. The recommended stocks include MDKA, ADRO, MEDC, BBRI, BMRI, BGTG, and AVIA.