JCI Tuesday Projected To Be Hit By Sell On News, Six Shares Can Be Payed Attention
JAKARTA - Phintraco Sekuritas in its research predicts that the Composite Stock Price Index (JCI) will be hit by sell on news today, Tuesday, August 20. JCI is expected to move in the 7,500 resistance range today, support 7,400.
Phintraco Sekuritas explained, be aware of the potential sell on news at the JCI in the next few days, especially at the time of the announcement of the results of the RDG BI on Wednesday, August 21.
"Technically, the Stochastic RSI is in an overbought area with the main movers being the majority of large capitalized bank shares," wrote Phintraco Sekuritas.
Phintraco Sekuritas added that anticipation of cutting the Fed Rate encourages the continued strengthening of the Rupiah exchange rate to Rp15,545 per US dollar on Monday 19 August afternoon. From within the country, the market expects a dovish tone from BI after RDG this week.
"In fact, the speculation of cutting the BI benchmark interest rate by 25 bps in the RDG has begun to emerge," explained Phintraco Sekuritas.
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Still from domestic, Phintraco Sekuritas said, the property price index in Indonesia grew slightly slower at 1.76 percent yoy in the second quarter of 2024 vs 1.89 percent yoy in the first quarter of 2024. This condition is relatively slower than the average growth in 2023. The positive side of this condition is the potential acceleration of property sales in Semester II-2024.
"Especially in the fourth quarter of 2024, it is in line with the expectations of easing BI's monetary policy in that period," explained Phintraco Sekuritas.
The stocks recommended by Phintraco Sekuritas today include GGRM, HMSP, WIIM, INTP, ARTO, and BBYB.