The JCI is Predicted to Continue to Strengthen on Wednesday, Investors Can Pay Attention to These Eight Stocks

Illustration. (Photo: Doc. Antara)

JAKARTA - The movement of the Composite Stock Price Index (IHSG) is predicted to continue strengthening in today's trading, Wednesday, August 30, after rising 0.52 percent or 36.10 points yesterday to 6,957.83

Phintraco Sekuritas estimates that the JCI tends to move closer to the psychological level of 7,000 in its research.

"The JCI has again formed a rising window along with Tuesday's strengthening. Confirmation of the resistance breakout at 6,950 is an indication of bullish continuation. Technically, the JCI still has the opportunity to strengthen to around the 6,975 level on Wednesday," explained research by Phintraco Sekuritas.

Externally, one of the reversals in sentiment was triggered by market players' confidence in the potential for the last increase in the Fed Funds Rate at the FOMC in September 2023.

The market is also relatively optimistic about the potential for economic soft-landing in the US. This view will be influenced by the release of US economic growth data which is estimated at 2.4 percent quarterly in the second quarter of 2023 compared to 2 percent quarterly in the first quarter of 2023.

From within the country, optimism about domestic economic stability and Indonesia's economic outlook is one of them still supported by BI's decision to hold the benchmark interest rate at 5.75 percent.

The stocks recommended by Phintraco Sekuritas for today include BBNI, BRMS, KLBF, AMRT, TKIM, TPIA, ICBP, and BSDE.