JCI Friday Projected to Strengthen Test Level 7.200, These Five Stocks are Recommended

JAKARTA - The Composite Stock Price Index (IHSG) has the potential to test the level of 7,200 on today's trading, Friday, May 8, after yesterday strengthened 1.15 percent to the level of 7,174.3.

Phintraco Sekuritas in its research said that optimism that a peaceful agreement between the US and Iran would be reached soon has encouraged the continued correction of WTI and Brent oil prices below the level of 100 US dollars per barrel.

This has eased concerns about rising inflation and widening budget deficits, if the US-Iran agree to end the war and oil prices continue to weaken.

Phintraco Sekuritas said that technically, the narrowing of the MACD histogram of the JCI continued and had the potential to form a Golden Cross. Stochastic RSI continued to strengthen in the pivot area.

"So, the JCI is expected to have the potential to test the level of 7,200 on Friday trading," wrote Phintraco Sekuritas.

Meanwhile, MNC Securities predicts that the JCI will be prone to correction to the range of 6,645-6,838 and the best case is that the JCI will strengthen to test 7,212-7,418, on Friday's trading.

MNC Sekuritas provides recommendations for five stocks for today's trading, namely ICBP, NCKL, PGAS, and BNBR.