JCI Thursday Potentially Continue Strengthening Testing Level 7,200-7,250
JAKARTA - The Composite Stock Price Index (JCI) is projected to continue to strengthen in today's trading, Thursday, July 17, after yesterday's increase of 51.54 points or 0.72 percent to the level of 7,192.0.
In his research, Phintraco Sekuritas assessed that the JCI was lifted thanks to the trade rate negotiations agreement between Indonesia and the United States (US), which was originally 32 percent to 19 percent.
In addition, the results of the board of governors meeting (RDG) of Bank Indonesia (BI) which decided to cut the benchmark interest rate from 5.5 percent to 5.25 percent also supported the increase in the index today.
As for technically, the MACD indicator, said Alrich, is still continuing to widen the positive slope so that if it is able to stay above the level of 7,130, the JCI is estimated to still have the potential to test the resistance level at 7,200-7,250 in trading this Thursday.
"On the other hand, be aware of profit taking if it is stuck below 7,200 considering that the stochastic RSI has entered the overbought area," wrote Phintraco Sekuritas.
In today's trading, Phintraco said the JCI would move in line with the release of the UK's Unemployment Rate data in June 2025 which is estimated to be stable in the range of 4.6 percent.
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From the European Union, inflation data for June 2025 will be released which is estimated to increase to 2 percent from 1.9 percent in May 2025. Meanwhile, from the US, investors are preparing to wait for the release of retail sales data in June 2025 which is estimated to increase by 0.1 percent on a monthly basis (MoM) from minus 0.9 percent (MoM) in the previous month.
Meanwhile, the stocks recommended by Phintraco Sekuritas today are PT Japfa Comfeed Indonesia Tbk (JPFA), PT Blue Bird Tbk (BIRD), PT Semen Indonesia Tbk (SMGR), PT Semen Baturaja Tbk (SMBR), and PT TBS Energi Utama Tbk (TOBA).