JCI Tuesday Potentially Rebound, This Row Of Stocks Is Recommended

Illustration. (Photo: Doc. Antara)

JAKARTA - The Composite Stock Price Index (JCI) closed up 2.93 points or 0.04 percent to 6,891.45 at the end of trading last Monday. Analysts predict that for today's trading Tuesday, October 10, the JCI will have a rebound opportunity.

Phintraco Sekuritas in his research said that the increase in the JCI on Monday was supported by the realization of Indonesia's Consumer Confidence Index (IKK) data at the level of 121.7 in September 2023. Although it fell from the position in August 2023 which was at the level of 125.2, the average IKK was still at 124.5 throughout January to September 2023.

"This condition shows that domestic consumption is still relatively strong and has the potential to support the pace of economic growth until the end of this year," explained the research of Phintraco Sekuritas.

The weakening of the rupiah is a sentiment that overshadows the JCI movement on Monday. From external, increasing geopolitical tension in the Middle East reinforces the tendency to wait and see from global market players.

Phintraco Sekuritas recommends being aware of stocks that are sensitive to lowering exchange rates, such as banking and health. On the other hand, the conflict has the potential to encourage rising commodity prices in the short term.

JCI will have the opportunity to continue rebounding to around 6,850- 6,950 this Tuesday. Stochastic RSI and MACD have the potential to form a golden cross to strengthen this potential continued rebound.

The recommended stocks include PT Medco Energi Internasional Tbk (MEDC), PT United Tractors Tbk (UNTR), PT Adaro Energy Indonesia Tbk (ADRO), PT Merdeka Copper Gold Tbk (MDKA). Then in stocks, PT Aneka Tambang Tbk (ANTM), PT AKR Corporindo Tbk (AKRA), PT Perusahaan Gas Negara Tbk (PGAS), PT Surya Esa Perkasa Tbk (ESSA), and PT Astrindo Nusantara Infrastruktur Tbk (BIPI).