JCI Is Projected To Correct On A Beautiful Date Of 12-12, Six Stocks Are Recommended

JAKARTA - The Composite Stock Price Index (JCI) is projected to correct today's trading, Thursday 12 December. Phintraco Sekuritas in his research estimates the JCI will move at 7,500 resistance, 7,450 pivot, and 7,400 support.

Phintraco Sekuritas explained that the JCI was still continuing to strengthen on Wednesday, but the marubozu patterns had stalled in the last two days. This indicates a decrease in the accumulation of selling, even long upper-shadowing, has begun to indicate profit-taking.

"Be aware of the potential for short-term pullbacks to be around 7,400-7,450 in the next few days," wrote Phintraco Sekuritas.

Phintraco Sekuritas said, after the release of US consumer inflation data, the market is now waiting for inflation data from the producer side in November 2024 which is expected to increase to 2.60 percent YoY from the previous 2.40 percent YoY.

"The combination of two inflationary data, both in terms of producers and consumers, will be the Fed's main concern in formulating interest rate policies at next week's meeting," added Phintraco Sekuritas.

From Europe, Phintraco Sekuritas said, the market is looking forward to releasing ECB interest rate data which is expected to be cut to 3.15 percent YoY from 3.40 percent YoY. The aim of the ECB to continue the trend of cutting interest rates this year is to stimulate the economy.

Phintraco Sekuritas recommends six shares on this beautiful 12-12 date, namely MAPI, KRAS, ISAT, ENRG, JSMR, and SMGR.