JCI Is Projected To Move Fluctuating Today, Check Out Recommended Stocks

JAKARTA - The Composite Stock Price Index (JCI) closed up 30.73 points or 0.45 points to 6,922.18 at the end of trading yesterday, Tuesday 10 October. Phintraco Sekuritas in his research said the rally in stock prices related to commodities will begin to be suspended today, Wednesday 11 October.

A number of economic observers assess that the conflict in the Middle East will have a limited impact on commodity prices, especially oil prices. This is because the conflict does not occur in the center or main areas of oil production in the Middle East.

"From within the country, the latest domestic economic data shows a slowdown in retail sales growth to the level of 1.1 percent yoy in August 2023 from 1.6 percent yoy in July 2023," explained the research on Phintraco Sekuritas.

Phintraco Sekuritas estimates the JCI will fluctuate on Wednesday with support at 6,900 and resistance at 7,000.

The stocks recommended for trading today include PT Bank Rakyat Indonesia Tbk (BBRI), PT Telkom Indonesia Tbk (TLKM), PT XL Axiata Tbk (EXCL), PT Sarana Menara Nusantara Tbk (TOWR), PT Surya Esa Perkasa Tbk (ESSA), and PT Medco Energi Internasional Tbk (MEDC).