Thursday's JCI Has The Opportunity To Strengthen Again, These Are Stocks To Watch

Illustration. (Photo: Doc. Antara)

JAKARTA - The movement of the Jakarta Composite Index (IHSG) is predicted to strengthen in today's trading, Thursday, March 9, after slightly increasing 0.14 percent or 9.61 points yesterday to 6,776.37.

Phintraco Sekuritas in its research stormed, JCI formed a hammer pattern along with an intraday rebound ahead of last Wednesday's closing. Technically, the stochastic RSI has the opportunity to form a golden cross in the oversold area. The rebound also reinforced indications of easing selling pressure on the JCI.

"On Thursday the JCI will move in the area of ​​support at the level of 6,750 and resistance at the level of 6,850," explained research by Phintraco Sekuritas.

This movement was influenced by several sentiments. The main negative sentiment comes from the expectation that The Fed will raise its benchmark interest rate by more than 25 bps at the FOMC meeting on Wednesday, March 22. This sparked speculation that the BI RDG would first raise the benchmark interest rate by 50 bps.

Even so, there is a positive domestic sentiment that supports the JCI, namely the Indonesia Consumer Confidence Index which was at the level of 122.4 in February 2023. This figure is relatively stable from the level of 123 in January 2023.

"This reinforces the belief that domestic consumption is still quite strong and is expected to support the pace of economic growth in the first quarter of 2023," explained research by Phintraco Sekuritas.

Phintraco Sekuritas recommends TLKM, JSMR, CPIN, UNVR and TOWR stocks which have rebound potential. In addition, the potential for buy on news on BBCA and BBNI can also be observed in trading this Thursday.