Five Stocks Recommended In The Midst Of The Fluctuating JCI Movement Today

JAKARTA - The Composite Stock Price Index is predicted to fluctuate today, Tuesday 10 September. Phintraco Sekuritas in its research estimates that the JCI today is expected to move at 7,750 resistance, 7,650 pivot, and support 7,600.

Phintraco Sekuritas said the strengthening of the JCI still tends to be stuck in the resistance range of 7,700-7,750 in the last two weeks until Monday's trading.

"Therefore, the JCI is expected to fluctuate again in the range of 7,650-7,750," wrote Phintraco Sekuritas.

From external, Phintraco Sekuritas said, anticipating the potential for cutting the ECB benchmark interest rate by 25 bps to 4 percent this week (12/9) changes market sentiment. Relatively persistent inflation in the Euro Area does not prevent ECB from cutting the benchmark interest rate to encourage the recovery of economic activity in the region.

Still related to monetary policy, Phintraco Sekuritas added, the market will continue to focus on FOMC on 17 and 18 September 2024 and RDG BI a few days later. The Fed is believed to have cut the benchmark interest rate, while BI is believed to deliver the dovish tone.

"Thus, the Rupiah exchange rate is estimated to last below Rp15,500 per US dollar this week," said Phintraco Sekuritas.

Phintraco Sekuritas recommends five shares for today, including ADRO, INKP, TKIM, PANI and BSDE.