JCI Monday Tests Level 5.700-5.800, See Stock Recommendations

JAKARTA - The Composite Stock Price Index (JCI) has the opportunity to test the level of 5,700-5,800 in today's trading, Monday, June 29, after last weekend closed down 1.72 percent to 5,896.1.

Phintraco Sekuritas in its research said that negative sentiment, among others, came from the weakening of Asian and European stock indices due to selling pressure on technology sector stocks amid rising concerns about the increase in the cost of AI infrastructure on Friday last week.

Pressure on technology sector stocks triggered a correction in metal commodity prices, which prompted a correction in related stocks.

Phintraco Sekuritas revealed that technically, the JCI closed below the MA5, MA10 and MA20 levels. The positive histogram of MACD began to weaken and Stochastic RSI entered the pivot area.

"So it is estimated that the JCI has the opportunity to test the level of 5,700-5,800 next week," wrote Phintraco Sekuritas.

Investors will look forward to a number of economic data from domestic, namely the PMI manufacturing index, trade balance and inflation in the coming week.

Meanwhile, MNC Sekuritas revealed that the JCI is prone to continue its correction to test the 5,723-5,784 area range, while the strengthening of the JCI in the short term is expected to test 5,912-5,937.

MNC Sekuritas recommends four stocks for today, namely BULL, CUAN, JSMR, and WIIM.