JCI Has A Rebound Today, Check Out Stock Recommendations From Analysts

JAKARTA - The Composite Stock Price Index (JCI) has the opportunity to rebound or rebound in today's trading, Tuesday, February 4, after weakening 1.11 percent yesterday to the level of 7,030.05.

Yesterday, the total volume of stock trading on the IDX reached 15.34 billion with a trading transaction value of Rp11.32 trillion. A total of 461 shares fell, and 168 stocks rose, and 174 other stocks were stagnant.

MNC Sekuritas in its research saw that today's JCI correction was also due to the implementation of the US import rate policy as of early February. As is known, Canada and Mexico were subject to a 25 percent import rate, and China was subject to a 10 percent tariff.

"This has resulted in the US dollar index moving higher and reducing the rupiah exchange rate," explained MNC Sekuritas.

For today's trading, the JCI has the opportunity to strengthen in the short term with support levels of 6,961 and resistance at 7,030.

"The sentiment is estimated to still be the impact of the US import rate. Investors are also waiting for the release of US manufacturing data and US work."

Shares that can be observed include INKP with a target price of IDR 6,900 IDR 7,325 per share, MBMA IDR 388 IDR 408 per share, and SIDO IDR 595 IDR 610 per share.