JCI Tuesday Potentially Continues Weakening, Check Out Stock Recommendations

JAKARTA - The Composite Stock Price Index (JCI) has the potential to continue its weakening in today's trading, Tuesday, March 11, after closing down 0.57 percent yesterday, down 37.78 points to the level of 6,598.21.

Phintraco Sekuritas in his research explained technically that the JCI has not been able to survive above the MA20 in the range of 6,625 levels in line with the positive slope narrowing in MACD.

"While the Stochastic RSI indicator is in an overbought area so the JCI will potentially test support at the 6,500 level on Tuesday's trading," explained Phintraco Sekuritas.

The market anticipates the release of JOLT's Job Openings data in January 2025 which is scheduled for release on March 11, 2025 as a reference to find out the number of job vacancies available in the US.

The market estimates that job vacancies in America will increase to 7.71 million from 7.6 million in December 2024, indicating increased labor demand.

The market anticipates the release of GDP Growth Rate Final data in the fourth quarter of 2025 in Japan on March 11, 2025, which is estimated to grow 0.7 percent QoQ, better than QoQ's 0.3 percent growth realization in the third quarter of 2024.

This realization indicates positive growth for 3 consecutive quarters. From within the country, the market awaits the release of IKK data projected from 127.2 in January to 127.5.

The stocks selected by Phintraco Sekuritas today are ICBP, INDF, INDY, MAPA, and EMTK.