JCI Is Predicted To Strengthen On Wednesday, These Five Stocks Could Be An Option

JAKARTA - The Composite Stock Price Index (JCI) is predicted to continue strengthening in today's trading, Wednesday, October 13. Phintraco Sekuritas in its research estimates that the JCI will move in the resistance range of 7,430, pivot 7,330, and support 7,200.

Phintraco Sekuritas explained that the weakening of Wall Street and index-indexes in Europe on Tuesday, November 12 could mean the JCI's continued rebound potential today. Moreover, the JCI yesterday entered the pivot area 7,300-7,330.

"Today's JCI confirmation rebound to 7,330 is a minor bullish reversal confirmation," wrote Phintraco Sekuritas.

Phintraco Sekuritas added that the factor that might still overshadow the potential for the JCI's continued rebound is the tendency to weaken the Rupiah exchange rate in line with the strengthening of the dollar index.

However, Phintraco Sekuritas said the latest information regarding President Prabowo's visit to China and telephone communication between President Prabowo and President Trump maintained the opportunity that Indonesia could still take advantage of bilateral relations with the US and China.

"This approach is believed to reduce the negative impact of trade war between the two countries on Indonesia's export performance," added Phintraco Sekuritas.

Phintraco Sekuritas said that the selling pressure in the Indonesian capital market may again subside in today's trading in line with the JCI's belief in the JCI in the range of 7,200.

Phintraco Sekuritas recommends five shares for today's trading, namely MAIN, HRUM, BIRD, SRTG and ESSA.