JCI Tuesday Vulnerable To Correct, These Are Recommended Stocks

Illustration. (Photo: Doc. Antara)

JAKARTA - The movement of the Composite Stock Price Index (JCI) is predicted to be vulnerable to corrections to today's match on Tuesday, June 20. JCI is expected to be traded at 6,750 resistance, 6,680 pivot, and 6,600 support today

Phintraco Sekuritas in his research explained, without solid directions from global indexes, the JCI correction today is expected to continue to the range of 6,650-6,660.

"Technically, MACD forms a death cross, reinforced by a Stochastic RSI decline from overbought area," wrote Phintraco Sekuritas.

Phintraco Sekuritas added that market participants anticipate the BI Board of Governors Meeting (RDG) on June 21-22, 2023. RDG BI is expected to again maintain the benchmark interest rate at the level of 5.75 percent.

"However, the market needs to pay close attention to BI's views on the potential fluctuations in the Rupiah exchange rate in the short term and its effect on BI's monetary policy direction in 2023," added Phintraco Sekuritas.

Phintraco Sekuritas said another factor that might affect RDG BI is the latest clue related to the Fed Rate's rise in 2023. The latest hint from the Fed that the Fed Rate's rise may be only two more times this year, following the assumption of a decline in US inflation to 3.3 percent yoy in 2023.

Phintraco Sekuritas recommends market players to consider stocks with the potential for further rebounds this Tuesday

"These stocks are PTPP, ASRI, BEST, BSDE, TBIG and ADHI," concluded Phintraco Sekuritas.