JCI At The Beginning Of The Week Of Strengthening, Six Shares Could Be An Option

JAKARTA - The Composite Stock Price Index (JCI) has the opportunity to strengthen in today's trading, Monday, March 10, last weekend's strike slightly rose 0.27 percent or 18.15 points to the level of 6,636.

Phintraco Sekuritas in its research observed that at the close of trading at the end of last week, the JCI was able to survive above the MA20 in the range of 6,630 levels in line with the positive slope widening in MACD.

"Meanwhile, the RSI Stochastic is moving towards an overbought area. So we estimate the JCI has the potential to test resistance at 6,700," he explained.

From the United States (US), the market anticipates the release of the February 2025 Inflation Rate data which is scheduled to be released on March 12, 2024, which is expected to fall to the level of 2.9 percent YoY from 3 percent YoY in January 2025.

Valdy said that based on a poll from the CME FedWatch Tool, the Fed is expected to hold the benchmark interest rate at the FOMC March 2025. This reflects on the level of US inflation above the target.

From the European region, the market anticipates the release of the February 2025 Final Inflation Rate data in Germany on March 14, 2025, which is estimated to be stable at the level of 2.3 percent on an annual basis or Year on Year (YoY).

From domestic, the market anticipates the release of the February 2025 Consumer Confidence data which is expected to rise to the level of 127.5 from the 127.2 level in January 2025, indicating an increase in optimism.

The stocks chosen by Phintraco Sekuritas for today are INCO, MYOR, ESSA, SMRA, SSIA and TINS.