JCI Monday Tests Level 5.900-6.000, Four Stocks Recommended by Analysts

JAKARTA - The Composite Stock Price Index (JCI) is predicted to test the level of 5,900-6,000 in today's trading, Monday, July 6. after last weekend closed up 2.28 percent to 5,875.7.

Phintraco Sekuritas in its research explained that the majority of indices on the Asian stock exchange closed stronger, following the emergence of hopes that the Fed could potentially delay the interest rate hike due to lower than estimated nonfarm payrolls data.

Then, the continued correction in crude oil prices and the rebound in gold prices were also positive factors.

"Technically, the JCI closed above MA5 and MA10. The MACD and Stochastic RSI indicators formed a Golden Cross, so it is estimated that the JCI has the potential to test the level of 5,900-6,000 this week," wrote Phintraco Securities.

Meanwhile, MNC Sekuritas in its review predicts that the JCI is still vulnerable to correction by testing 5,472-5,540.

MNC Sekuritas recommends four stocks for today, namely AVIA, JPFA, MLPL, and PSAB.