JCI Fluctuations Tuesday Can Be Used To Choose These 7 Stocks
JAKARTA - The Composite Stock Price Index (JCI) is predicted to fluctuate today, Tuesday, June 4. Phintraco Sekuritas estimates the JCI will move at 7,140 resistance, 7,075 pivots, and 7,000 supports.
"JCI formed a pattern resembling a doji star following fluctuations on Monday. This pattern indicates the potential for further fluctuations in the pivot range of 7,050-7,075," wrote Phintraco Sekuritas in his research.
From external, Phintraco Sekuritas said, the euphoria of the opportunity to cut the ECB benchmark interest rate only lasted during trading hours. The reason is, the bank's stock prices will experience intraday correction again ahead of Monday's closing.
Still from external, Phintraco Sekuritas added, China's manufacturing index rose to 51.7 in May 2024 from 51.4 in April 2024. The realization of the data strengthened China's confidence in economic recovery. Previously, the IMF revised China's economic growth target to 5 percent in 2024 from its previous estimate at 4.6 percent.
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On the other hand, Phintraco Sekuritas said, Indonesia's total inflation fell to 2.84 percent yoy in May 2024 from 3 percent yoy in April 2024 and Indonesia's manufacturing index fell to 52.1 in May 2024 from 52.9 in April 2024.
"The combination of these two conditions indicates a slowdown in Indonesia's economic activity in May 2024," explained Phintraco Sekuritas.
Meanwhile, Phintraco Sekuritas recommends stocks that have the potential to be cash, namely BBRI, BMRI, BBNI, MDKA, EXCL, GJTL, and ADMR.