JAKARTA - The movement of the Composite Stock Price Index (IHSG) is projected to continue strengthening in today's trading, Thursday, March 30 after yesterday's strengthening 1.17 percent to a level of 6,839.43.
Phintraco Sekuritas in their research predicts that the JCI will continue to strengthen at the resistance at 6,865, the pivot at 6,800, and the support at 6,765.
"The JCI formed a rising window along with Wednesday's strengthening. There is a widening positive slope at MACD. These things indicate the potential for further strengthening on Thursday," explained Phintraco Sekuritas' research.
The strengthening of the majority of global indices on Wednesday also contributed to positive sentiment for today's JCI. Another positive sentiment stemmed from the continued strengthening of the Rupiah exchange rate to a level of IDR 15,060 per US dollar on Wednesday afternoon from around IDR 15,350 per US dollar last week.
"This is still related to liquidity assistance by the Fed and plans to increase the liquidity assistance program from authorities in the US," added Phintraco Sekuritas.
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Thus, Phintraco Sekuritas explained, BI's decision to maintain the benchmark interest rate at 5.75% was again appreciated by the market. This can be seen from the strengthening of banking stock prices on Wednesday.
Phintraco Sekuritas recommends that there are seven prospective cash stocks today.
"These stocks are BBRI, BMRI, TLKM, UNTR, PTBA, KLBF, and TOWR," concluded Phintraco Sekuritas.
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