JCI Is Covered In Various Local And Global Sentiments On Weekends, Check Out Stock Recommendations

JAKARTA - The Composite Sahan Price Index (JCI) weakened 0.24 percent or 17.01 points to the level of 7,195.12 in yesterday's trading, Thursday 8 August. What about the JCI projection today, Friday 9 August?

Phintraco Sekuritas in his research said that technically, there was a negative slope narrowing on the MACD indicator and the Stochastic RSI indicator was experiencing a golden cross indicating potential strengthening.

However, the JCI has not been able to survive above the level of 7,200 so the JCI has the potential to consolidate in the range of 7,150-7,200 in today's trading, Friday.

"The market anticipates several releases of US economic data including preliminary jobless claims last week and Wholesales Inventories in June," explained research by Phintraco Sekuritas.

The market estimates that the US initial jobless claim last week decreased to 240 thousand from 249 thousand in the previous week. This estimate indicates a potential improvement in the labor sector in the US after weakening in recent times.

Meanwhile, US overalls inventory in June 2024 is expected to fall to 0.2 percent month on month (MOM) from 0.6% MoM in May 2024.

From the region, China is scheduled to release an Inflation rate in July 2024 on Friday where the market estimates the Inflation Level in China will rise to 0.3 percent YoY in July 2024 from 0.2 percent YoY in June 2024.

"This estimate could raise concerns about China's economic recovery outlook in the second semester of 2024," explained Phintraco,

Meanwhile, from domestic, the market is looking forward to releasing retail sales data in June 2024 which is scheduled to be released on Friday and is expected to increase in line with the increase in consumer confidence in the Indonesian economy.

The stocks contributed by Phintraco Sekuritas today include BBCA, ARTO, PNLF, ICBP, and PGAS.