Filled with Positive Sentiment, Monday's JCI Has the Potential to Strengthen

JAKARTA - The Composite Stock Price Index (IHSG) is predicted to strengthen to the level of 7,200-7,250 in trading today, Monday, December 18. Phintraco Sekuritas in its research said that this sentiment came from the decisions of a number of world central banks, including Bank Indonesia (BI) which held a Board of Governors Meeting on December 20-21, 2023.

"In line with the Stochastic RSI, which tends to move up and the formation of a golden cross signal on the MACD, this opens up opportunities for a further rebound in the JCI to the range of 7,200-7,250," explained Phintraco Sekuritas research.

Furthermore, this week's sentiment still stems from the decision of a number of world central banks, namely the Fed, ECB and BoE, to hold interest rates again in December 2023. Apart from that, BI will hold a Board of Governors Meeting (RDG) on 20-21 December.

"The central bank is expected to continue holding its benchmark interest rate in December, following the decisions of a number of other central banks. This has the potential to push up the rupiah exchange rate for some time to come," wrote Phintraco Sekuritas.

In other developments, a number of important data will also be released this week. The European region on December 19 and the UK on December 20 will release inflation data for November 2023.

The US released Final GDP Growth Rate QoQ data on December 21. The market can pay attention to stocks with opportunities for further rebound and rebound, such as BBCA, BUMI, MDKA, KLBF, AUTO, BTPS and MNCN this week.