JCI Tuesday Projected To Test Level 7,300 Impact Covered By Various Positive Sentiments

JAKARTA - The Composite Stock Price Index (JCI) fell 0.28 percent or 20.73 points to the level of 7,266.46 in trading Monday 11 November. So what about the JCI movement today, Tuesday 12 November?

Phintraco Sekuritas in his research sees that the JCI is likely to potentially test resistance at the level of 7,300 in today's trading, caused by some supporting sentiment.

From the global market, the market is looking forward to releasing Consumer Inflation Expectations data in October 2024 in the United States (US) which is scheduled to be released on Tuesday and is expected to be stable at 3 percent.

From the European region, the market is looking forward to releasing inflation-level data in Germany in October 2024 which is expected to increase to a level of 2 percent. This shows that there has been an improvement in the level of domestic consumption.

At the same time, there was a release of data on the unemployment rate in September 2024 in the UK which is expected to increase to a level of 4.1 percent from 4 percent in August 2024, explained Phintraco Sekuritas.

From the regional side, the economic data that will be released on Tuesday is relatively minimal. Meanwhile, from the domestic market, the market is looking forward to releasing retail sales data in September 2024 which is scheduled to be released this Tuesday.

"It is estimated that retail sales will decline to the level of 2.5 percent year on year (YoY) in September 2024, from 5.8 percent YoY in August 2024," he explained.

The stocks recommended by Phintraco Sekuritas today are INDY, EMTK, TOBA, JPFA, and PWON.