JCI Wednesday Is Projected To Strengthen Again, These Five Stocks Should Not Be Passed

JAKARTA - The Composite Stock Price Index (JCI) is projected to strengthen in today's trading, Wednesday, July 10, after yesterday's rise of 0.26 percent or 18,824 to the level of 7,269,801 until the end of the trial.

Phitraco Sekuritas, in his research, said the JCI tested resistance for new areas at 7,280-7,300 on Tuesday. The strengthening was supported by the realization of Indonesia's retail growth of 2.1 percent yoy in May 2024, better than April which fell by about 2.7 percent.

Previously, the realization of Indonesia's Consumer Confidence Index (IKK) was at 123.3 in June 2024.

"The two data indicate that household consumption can still be relied on to achieve economic growth above 5 percent in 2024," wrote Phintraco Sekuritas.

While from external, the market anticipates the speech of the Fed Chair, Jerome Powell. The market hopes for a surprise, although Powell is believed to be difficult to get out of the "dependent data" feed in his speech.

Then there is also data on Chinese inflation which is estimated to also affect the JCI movement on Wednesday. Chinese inflation is expected to increase by 10 bps to 0.4 percent yoy in June 2024. This indicates a limited economic recovery in China.

The stocks recommended by Phintraco Sekuritas today include BBNI, BMRI, BRIS, TOWR, and WIIM.