JAKARTA - The Composite Stock Price Index (IHSG) has the potential to continue strengthening today, Friday, August 11, after rising 0.26 percent or 18.16 points yesterday to 6,893.27.
Phintraco Sekuritas in its research predicts that the JCI will still consolidate at the pivot of 6,880 on Friday trading. The pivot level also coincides with the MA20 indicator. The potential for a technical rebound is maintained, as long as it stays above 6,880.
Externally, inflation in the United States (US) is sluggish thereby strengthening The Fed's plan to start maintaining its benchmark interest rate at 5.75% starting at the FOMC September 2023. Still externally, the British economy is estimated to grow 0.5% YoY in June 2023, returning to positive zone after experiencing a contraction of 0.4 percent YoY in May 2023.
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"The various external sentiments above are in contrast to a number of recent relatively solid domestic economic data. These conditions are believed to maintain the bullish reversal momentum for the JCI," explained research by Phintyraco Sekuritas.
The stocks recommended by Phintraco Sekuritas for today are INDF, ICBP, MAPI, AMRT, ESSA, TOWR and SCMA.
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