JCI Will Return To 7,000 On Friday? These Are Recommended Stocks

Illustration. (Photo: Doc. Antara)

JAKARTA - The Composite Stock Price Index (JCI) is projected to rebound in today's trading, Friday, September 22, after yesterday's decline of 0.29 percent or 20.21 points to 6,991.47.

Phintraco Sekuritas in his research said that yesterday the JCI was depressed by the bank's stock corrections, besides that due to the decision of the fixed interest rate by the Federal Reserve and the statement by The Fed Chairman Jerome Powell.

"However, the pressure on bank stocks was eased by BI's decision to hold the benchmark interest rate at 5.75 percent," explained Phintraco Sekuritas in his research.

In addition, there was an increase in SPI credit growth by 9.06 percent YoY in August 2023 (8.54 percent YoY in July 2023). Alrich observed that the Stochastic RSI was still moving up, indicating the potential for further strengthening in the JCI.

Phintraco projects that the JCI has the opportunity to re-test the psychological level of 7,000, in the range of 6,950-7,050.

The stocks that are accommodated include ICBP, MAPI, KLBF, AMRT, JPFA, and CPIN. In addition, the opportunity to buy SAME, MIKA, and SIDO shares can be considered.