JCI Monday Predicted To Be Limited, These Are Recommended Stocks

Illustration. (Photo: Doc. Antara)

JAKARTA - The movement of the Composite Stock Price Index (JCI) is projected to be limited in today's trading, Monday, July 18 after last weekend's correction of 0.57 percent or 38.18 points to 6,651.90.

During the week, the JCI fell 1.31 percent from 6,740,219 in the previous week. The Phintraco Sekuritas research team estimates that the JCI has the potential to rebound to the range of 6,730, as long as it stays above the 6,630 level in today's trading.

According to Phintraco Sekuritas, the 6,630 and 6,730 levels are still strong support and resistance for the JCI for now. The JCI weakened in session II, Friday, July 15, in response to the government's plan to resume the policy of simplification of cigarette types to 5 layers.

For information, there are differences in excise rates for each layer of cigarettes. Meanwhile, the increase in the balance of payments surplus to US$5.09 billion, in line with the increase in export value of up to 40.68 percent in June 2022, supported the JCI on Friday.

"Fears of inflation, rising interest rates, and slowing economic growth are still the main concerns of market players today," explained the Phintraco Sekuritas team in their research.

This has an effect on market concerns about the inflation rate in the remainder of 2022, as well as the potential for an increase in Bank Indonesia's benchmark interest rate in semester IIv2022. Phintraco Sekuritas recommends investors to pay close attention to stocks such as ASII, TLKM, TOWR, STAA, ABBA, ERAA, to CMRY today.