JCI Is Projected To Strengthen At The Beginning Of The Week, These Six Stocks Are Worth Calculating

JAKARTA - The Composite Stock Price Index (JCI) is projected to move higher in today's trading, Monday 9 September. Phintraco Sekuritas in its research estimates the JCI will move at the support level of 7,600 and resistance at 7,750, with a pivot at the level of 7,650.

For information, the JCI managed to strengthen 40.8 points or 0.53 percent to the level of 7,721.84 at the close of trading last Friday, September 6. Meanwhile, the JCI accumulated an increase in 0.67 percent a week.

Phintraco Sekuritas sees that the JCI has the potential to test resistance at the level of 7,750 in trading at the start of trading this week.

Sentiment dari global, pasca rilis data ketenagakerjaan pada Jumat, investor menanti rilis data core consumer price index (CPI) dan CPI pada Rabu 11 September. Core CPI diperkirakan akan tumbuh 0,2% secara bulan aka month on month (MoM) pada Agustus 2024 atau sama level bulan sebelumnya.

Meanwhile, this Monday there is a release of wholesale inventory data in July 2024 which is expected to grow 0.3 percent MoM from the previous 0.2 percent MoM in June 2024.

"Next week's CPI data and the release of employment data today are expected to strengthen the expectations of the Fed's cuts in the FOMC on Wednesday, September 18," explained Phintraco Sekuritas.

Sentiment dari Eropa, investor menanti rilis data CPI Jerman bulan Agustus 2024 pada Selasa 10 September yang diperkirakan akan melandai ke level 1,9 persen secara tahunan alias year on year (YoY) (July 2024: 2.3 persen).

Meanwhile, investors are also looking forward to the results of the European Central Bank (ECB) interest rate decision meeting on Thursday, September 12, which is expected to continue cutting 25 basis points (bps) to 4 percent.

"This is in line with the realization of European inflation which is approaching the ECB target at the level of 2 percent," he explained.

From the region, the market is looking forward to a number of Japanese economic data releases. Japan's gross domestic product (GDP) in the second quarter of 2024 is expected to grow positively at the level of 3.1 percent YoY, growing 0.8 percent MoM.

This indicates market expectations of the momentum of economic growth in Japan in line with a positive trend towards wage growth and tax cuts as well as increased private and individual consumption.

"This is in line with the expectations of growth of the Capital Expenditure GDP which will grow 0.9 percent on a quarterly basis (QoQ) in the second quarter of 2024," he said.

Meanwhile, Phintraco Sekuritas recommends stocks that can be considered today, including BFIN, SSMS, BBTN, ESSA, HMSP, and ERAA.