External Sentiment Can Press JCI Today, Check Out Stock Recommendations From Analysts

JAKARTA - The Composite Stock Price Index (JCI) closed down 0.46 percent or 31.99 points to 6,854.51 in trading Wednesday 2 August. JCI is predicted to slip again today.

Phintraco Sekuritas in his research said, along with the weakening on Wednesday, the JCI formed a gap down as an indication of potential further correction. JCI is expected to test support in the range of 6,830 on Thursday with resistance at 6,950, and pivot at 6,880.

External sentiment is expected to pressure the JCI again on Thursday's trading, one of which is from a decrease in the rating of long-term US (US) debt securities to AA+ from AAA by Fitch Ratings. The decline is based on concerns about fiscal conditions in the next three years.

The above has the potential to increase market players' vigilance. On the other hand, it can also encourage the Fed to be more accommodative, given that inflation is nearing the Fed's target of 2 percent and the relatively solid condition of the labor sector in the US.

"Thus, the focus on this Thursday is on bluechip stocks that have not yet entered the overbought area or have the potential to rebound, such as BBCA, BBRI, BBNI, SMGR, AKRA, ICBP, INDF, and AMRT," explained research by Phintraco Sekuritas.