JCI End Of Week Potentially Corrected, Check Out Stock Recommendations

JAKARTA - The Composite Stock Price Index (JCI) is projected to be corrected in today's trading, Friday, January 24, after yesterday's decline of 0.34 percent or 24.48 points to 7,232.64.

Phintraco Sekuritas in his research looked technically, the JCI formed a shooting star pattern indicating selling pressure and potential reversal, especially after failing to penetrate the dynamic resistance in MA200.

Modern indicators such as the stochastic RSI are already in the overbought area, while the MACD histogram shows sideways movement.

"Therefore, as long as the JCI has not been able to penetrate the MA200, we anticipate the potential correction to the psychological support area at 7,200 on Friday's trading," wrote Phintraco Sekuritas.

Global investors are looking forward to the release of US PMI Flash's S&P Global Manufacturing data in January 2025, which is expected to increase slightly to 49.60 from 49.40 in December 2024.

PMI Manufacturing AS still recorded contractions in six consecutive months or reached 49.4. The depressed PMI was caused by the weakening of new orders and exports.

From domestic, investors' attention is now focused on releasing Foreign Direct Investment (FDI) data for the fourth quarter of 2024. FDI's performance in the third quarter of 2024 reached 18.55 percent YoY, supported by investor interest in the basic metal sector and electric vehicle supply chain.

In the future, Nurwachidah estimates that FDI growth will remain solid in the range of 15-18 percent YoY, thanks to the pro-investment policies implemented by the government when global challenges continue to loom.

The stocks chosen by Phintraco Sekuritas for today are AUTO, PGAS, CLEO, MAPA and UNVR.