JCI Strengthens On Fridays, What Shares Are Recommended?

Illustration. (Photo: Doc. Antara)

JAKARTA - The movement of the Composite Stock Price Index (JCI) has the potential to strengthen in today's trading, Friday, February 24, after yesterday's rise of 0.43 percent or 29.49 points to 6,839.45.

Phintraco Sekuritas in his research analyzed technically the JCI formed a forward over the MA50 along with a golden cross in the oversold area at the Stochastic RSI.

"This indicates the potential for rebounds to 6,850 to close gaps to 6,870 on Friday," explained the research Phintraco Sekuritas.

Market participants seem to be starting to consider the condition of the Fed's interest rate which is almost at its peak level, although there is still potential for an increase in several upcoming FOMCs.

"This is demonstrated by rebounding on stocks rate-sensitive, especially banks and property & real estate," explained the research of Phintraco Sekuritas.

Shares such as BMRI, BBNI, BBRI, BBCA, BRIS, AGRO, BTPS, PWON, BSDE and SMRA have the potential to continue rebounding in weekend trading.

In addition, there are also expectations of rebounding commodity prices, as expectations of recovery in commodity demand from Europe have the potential to encourage rebounds in stocks in the energy sector, including HRUM, MEDC, RMKE, BIPI, AKRA and PGAS.

"This expectation is influenced by a significant increase in the ZEW Economic Sentiment Index at the Euro Area and Germany in February 2023," explained the research of Phintraco Sekuritas.