Friday's JCI Is Projected To Strengthen Again, These 8 Stocks Are Recommended

JAKARTA - The movement of the Jakarta Composite Index (IHSG) is projected to rebound in today's trading, Friday, April 14, after closing down 0.20 percent yesterday to 6,785.59.

Phintraco Sekuritas in their research predicts that the JCI will rebound and will trade at resistance 6,835, pivot 6,800, support 6,750. JCI has the potential to continue the minor bullish reversal pattern as long as it stays above MA10 (6,750)

"JCI has the potential to rebound to 6,800-6,820 on Friday. Solid positive directions from Wall Street can trigger this rebound," wrote Phintraco Sekuritas.

From the region, Phintraco Sekuritas added, China's export value grew 14.8 percent yoy in March 2023. Meanwhile, the decline in China's import value (1.4 percent yoy) in March 2023 was slower than forecast (5 percent yoy). This condition maintains optimism that China's manufacturing activity recovery will continue in 2023.

"This condition is expected to have a positive impact on the Indonesian Trade Balance (NPI) in March 2023," said Phintraco Sekuritas.

From within the country, Phintraco Sekuritas added, the Rupiah exchange rate strengthened 0.84 percent to IDR 14,750 per US dollar on Thursday afternoon. This strengthening was supported by market optimism that the Fed would not raise its benchmark interest rate by more than 25 bps in the next FOMC.

Phintraco Sekuritas recommends watching the following stocks, namely BMRI, ITMG, MAPI, HMSP which are expected to rebound.

"While ANTM, MDKA, PTBA, and TOWR are recommended for buy trading," concluded Phintraco Sekuritas.