JCI Monday Projected To Try To Stay In The Green Zone, Check Out Stock Recommendations

JAKARTA - The Composite Stock Price Index (JCI) is projected to continue strengthening in today's trading, Monday, January 13, after last weekend's rise of 24.27 points or 0.34 percent to the level of 7,088.86.

Phintraco Sekuritas in his research saw, technically, the rebound on Friday, January 10 trading opened up opportunities for the formation of a golden cross at the stochastic RSI.

JCI is also predicted to move at the resistance level of 7,130 and support 7,030, with a pivot at 7,100 on Monday's trading.

Positive sentiment stems from strengthening the rupiah exchange rate by 0.083% to IDR 16.180 per US dollar and potentially strengthening further. This was influenced by the People's Bank of China (PBOC) decision to temporarily stop the purchase of treasury bonds.

"This is considered an effort to encourage the strengthening of the Yuan exchange rate against the US dollar," explained Phintraco Sekuritas.

Domestically, retail sales grew 0.9 percent year on year (yoy) in December 2024. This is lower than 1.5 percent YoY in November 2024.

However, vehicle sales are relatively improving in December 2024. Motor sales fell 5.5 percent YoY in December 2024, better than the decline of 10.30 percent YoY in November 2024.

"Meanwhile, car sales fell 6.4 percent YoY in December 2024, better than the 11.9 percent YoY decline in November 2024," explained Phintraco Sekuritas.

The data above strengthens market expectations that economic activity in December 2024 is much better than expected and is believed to increase in the first quarter of 2025.

As for stocks with attractive movements according to Phintraco Sekuritas. Instead, from the energy sector, such as ADMR, BUMI, PTBA and ENRG. Other stocks that investors can pay attention to are ANTM and TOWR.