JCI End of Week Potentially Strengthened, Tested Level 5.900-5.950

JAKARTA - The Composite Stock Price Index (JCI) has the potential to continue strengthening in today's trading, Friday, June 12, after yesterday closed down 0.28 percent to 5,886.

The sharp correction in the index on Wall Street, the rise in oil prices, the weakening of gold prices, and the increasing tensions in the Middle East, were negative sentiments that triggered profit taking after the index had experienced significant strengthening for two consecutive days.

Phintraco Sekuritas in its research explained that the weakening of the index was reduced after it was reported that the US had completed the attack on Iran and there was a weakening in world oil prices.

In addition, the positive catalyst also comes from the news that the Government will carry out budget efficiency for the MBG program. The raw materials sector recorded the largest correction (4.27%), while the financial sector recorded the largest strengthening (1.36%).

In the spot market, the rupiah closed down 0.25 percent at Rp17,989 per US dollar. Technically, MACD has the potential to form a Golden Cross and the JCI closed above the MA5 and MA10 levels.

"So it is estimated that the JCI still has the opportunity to continue strengthening by testing the level of 5,900-5,950," wrote Phintraco Sekuritas.

Meanwhile, MNC Sekuritas also revealed that the JCI still has the opportunity to strengthen to test the 6,065-6,256 area in this Friday's trade.

Meanwhile, the stocks recommended by MNC Sekuritas today are MEDC, PGAS, SMDR, and VKTR.