Thursday's JCI Is Predicted To Continue To Weaken, The Following Stocks Could Be An Option

Illustration. (Photo: Doc. Antara)

JAKARTA - The movement of the Jakarta Composite Index (JCI) is predicted to continue to weaken in today's trading, Thursday, January 26, after dropping 30.92 points or 0.45 percent yesterday to a level of 6,829.93.

In his research, Phintraco Sekuritas explained that the JCI will continue to correct this Thursday, where technically, there is an overbought signal on the Stochastic RSI which strengthens indications of further correction.

"Pay attention to the pivot level at 6,800 and strong support at 6,740 if the pullback continues. Meanwhile, the closest resistance level is at 6,880," explained Phintraco Sekuritas.

Speculative buy opportunities in building construction stocks can be considered. This is in line with the realization of foreign investment in Indonesia which rose 3.7 percent qoq or grew 43.3 percent yoy to IDR 175.2 trillion in the fourth quarter of 2022.

Externally, market players are still waiting and seeing to anticipate the potential increase in the benchmark interest rate in the FOMC on 1 February 2023. The Fed's interest rate is expected to rise by 25 basis points (bps), lower than the increase in the previous few months.

"This attitude is expected to trigger a further correction in the JCI," explained research by Phintraco Sekuritas.

Market players can pay attention to buy trading opportunities for stocks that have not indicated overbought, such as JPFA, TOWR, AGRO, INTP, SMGR, BBYB, BIPI, and SCMA.