Check Out The Stock Recommendations And Movement Of The JCI Today, Tuesday, July 25

Illustration. (Photo: Doc. Antara)

JAKARTA - The movement of the Composite Stock Price Index (JCI) rose 0.27 percent or 18.59 points to 6,899.39 at the end of trading Monday, July 24. So what about the JCI movement today, Tuesday, July 25?

Phintraco Sekuritas in his research said that strengthening the JCI has the potential to meet strong resistance at 6,930-6,950. Stochastic RSI has entered the overbought area.

"Therefore, we maintain a careful view of profit taking when the JCI entered the resistance area on Tuesday," explained Pintraco Sekuritas research.

From external means, the JCI movement will be influenced by a number of sentiments, such as a decline in the manufacturing index (Flash) in the Euro Area, Germany and the UK in July 2023, strengthening market participants' speculation against changes to European Central Bank (ECB) and Bank of England (BoE) policies.

Moreover, the realization of inflation in June 2023 in the region tends to fall deeper than expected. The ECB is scheduled to announce the results of its meeting on July 27, 2023.

"Before the Fed July 26 and ECB July 27, Bank Indonesia (BI) was scheduled to submit the results of the RDG on July 25, 2023. RDG BI is expected to again maintain the benchmark interest rate at the level of 5.75 percent," said the research. Phintraco Sekuritas.

Still from within the country, positive sentiment stems from the realization of foreign investment growth of 17.6 percent yoy and domestic investment of 14.2 percent yoy in the second quarter of 2023. This data also reduces market concerns about investment outlooks in Indonesia ahead of the political year.

Meanwhile, Phintraco Sekuritas projects that stocks such as ASII, TLKM, ACES, TOWR will rebound. Also, the potential for further strengthening of SMGR, BDMN, TKIM and ESSA shares.