JCI Thursday Is Projected To Move In The Range Of 7,000-7,200, Five Shares Could Be An Option

JAKARTA - The Composite Stock Price Index (JCI) is projected to move in the range of 7,000-7,200 in today's trading, Thursday, June 19. Phintraco Sekuritas in his research estimates the JCI will move in the resistance range of 7,200, pivot 7,100, and support 7,000.

Phintraco Sekuritas explained that the JCI closed down 0.67 percent yesterday to the level of 7,107.79. The market was affected by negative sentiment from the increasing intensity of the Iran-Israeli war and concerns that the US would participate in the conflict.

Domestically, Phintraco Sekuritas said, according to estimates, BI maintains the BI Rate at the level of 5.5 percent.

"This decision is in line with controlled inflation in the BI target range, stabilization of the rupiah exchange rate amid high global uncertainty, and to encourage economic growth," wrote Phintraco Sekuritas.

Technically, Phintraco Sekuritas said, the Stochastic RSI indicator is in the oversold area, but the MACD indicator tends to flatten.

The Bollinger bands are narrowing, indicating the market is waiting for new sentiment to rise or continue corrections,' added Phintraco Sekuritas.

Phintraco Sekuritas added that the JCI was closed again under the MA200 and had penetrated the level of 7,100.

"In the midst of increasing external geopolitical pressure and the lack of new positive sentiment, it is estimated that the JCI will consolidate today in the range of 7,000-7,200," added Phintraco Sekuritas.

From England, Phintraco Sekuritas said, the Bank of England is expected to maintain interest rates at the level of 4.25 percent. The market will also observe the development of the Iran-Israeli conflict.

The market is also watching the progress of tariff negotiations between the US and its trading partners, said Phintraco Sekuritas.

The stocks recommended by Phintraco Sekuritas today are ICBP, ESSA, TLKM, MAPI and INCO.