JCI Potentially Corrected Today, Five Stocks Are Recommended

JAKARTA - The composite stock price index (JCI) is projected to be corrected fairly in today's trading, Wednesday 19 February. Phintraco Sekuritas in his research said the JCI would move in the resistance range of 6,900, pivot 6,830, and support of 6,775.

Phintraco Sekuritas said the JCI resumed its rise to the level of 6,873 (0.62 percent) on Tuesday, February 18. Technically, the JCI today still has the potential to decline with the upper shadow candlestick after closing the gap at the range of 6,770-6,875.

"Thus, we estimate that there will be a normal retracement on the JCI today to the support area of 6,830-6,775," wrote Phintraco Sekuritas.

Phintraco Sekuritas explained that investors are waiting for a speech from the President of the United States (US) Donald Trump and the both planned Building Permit and Housing Starts data this Wednesday.

Donald Trump's speech is expected to talk about the geopolitical issue between the US and Russia. Building Permit and Housing Starts in January are expected to decline both from previous data releases.

From England, Phintraco Sekuritas said, BoE is scheduled to release inflation data for January. British inflation is expected to increase from previously at the level of 2.5 percent YoY to 2.8 percent YoY in January.

From the Regional, Phintraco Sekuritas said investors were waiting for Japanese Trade Balance data for January. Japan's Trade Balance is expected to experience a significant decline from JP 130.9 billion to JPmen -2.104 billion.

"This data indicates that the number of imports is greater than exports," added Phintraco Sekuritas.

Meanwhile, from domestic, Phintraco Sekuritas explained, BI will hold RDG-BI today. BI is expected to hold interest rates at the level of 5.75 percent, as well as the level of deposit facilities and interest rates of credit facilities which are both held at the level of 5.00 percent and 6.50 percent.

The stocks recommended by Phintraco Sekuritas today are AKRA, MAPI, MYOR, MAPA, and AMMN.