JCI Monday Projected Limited Weakening, These Shares Are Recommended

Illustration. (Photo: Doc. Antara)

JAKARTA - The movement of the Composite Stock Price Index (JCI) has the potential to weaken limitedly today, Monday, December 19, after closing higher by 60 points last weekend or 0.89 percent to the level of 6,812.

The basic material, financial, energy, health sector, consumer noncyclicals, infrastructure moves positively and dominates the JCI increase.

Associate Director of Research and Investment Pilarmas Investindo Sekuritas Maximilianus Nico Demus explained that sentiment in the stock market will come from the prospect of increasing Bank Indonesia's benchmark interest rate, after the US Central Bank Federal Reserve raised its benchmark interest rate by 50 basis points to around 4.25 percent-4.5 percent in December 2022.

"This can ease Bank Indonesia's steps in increasing the rate of interest rates, because the pressure from the Fed has also become more limited," Nico said in his daily research.

Nico predicts that based on technical analysis, JCI today has the potential to weaken in the range of 6,6826,886. Pilarmas Sekuritas also recommends BBNI shares with a target support and resistance at 8,575-10,000.

In addition, shares of the Salim INDF Group issuer are also recommendations with a support and resistance target of 6,800-7,175, and ANTM shares at 1,970-2,100.

Meanwhile, Yugen Bertumbuh Sekuritas CEO William Surya said, JCI seems to be still within a reasonable range of consolidation with limited potential increases,

"Looking at the capital inflow side year-to-date still shows a considerable investment interest in the Indonesian capital market, while in terms of fundamentals the economy also still shows stability in seeing from the economic data reported," he explained in daily research.

William added that these factors support the growth of the JCI both in the short- and long term, so that it can be a consideration for investment for investors to be able to invest in the Indonesian capital market.

In today's trading, according to him, the JCI has the potential to strengthen and move in the range of 6,681 to 6,879. The stocks that are recommended are TBIG, HMSP, UNVR, ICBP, WIKA, GGRM, BBCA, BINA, PWON, and ASRI.