JCI Thursday Is Projected To Strengthen Even Though There Are Several Negative Sentiments

JAKARTA - The movement of the Composite Stock Price Index (JCI) is predicted to strengthen in today's trading, Thursday, May 25, after closing up 0.14 percent yesterday or 9.12 points to the level of 6,745.80.

Phintraco Sekuritas in his research said that the JCI experienced a normal pullback after forming a three white candles on Wednesday. Positive slope in stochastic RSI and MACD began to narrow down.

"Thus, the JCI is expected to tend to be consolidative in the support range of 6,700 to 6,760 individuals. Meanwhile, resistance is expected to be at the level of 6,810," explained Phintraco.

External negative sentiment still overshadows the JCI. Inflation in the UK fell to 8.7 percent YoY in April 2023 from 10.1 YoY percent in March 2023, but slightly higher than expected at 8.2 percent YoY.

This condition reinforces the belief that major central banks in Europe are still far from the terminal rate. This condition is also considered to have a negative impact on market views on economic outlooks, especially in the European region.

Still related to the interest rate policy, BI is expected to again maintain the benchmark interest rate at 5.75 percent on Thursday, May 25.

Meanwhile, Phintraco Sekuritas recommends stocks that can be used as a reference for investors today, including MEDC, ISAT, PGAS, BFIN, TBIG, JSMR, INCO and SIDO.