JAKARTA - The movement of the Composite Stock Price Index (JCI) is still overshadowed by several sentiments, especially globally. This makes the JCI fluctuation will continue in the future.
Phintraco Sekuritas in his research said that the formation of a long lower shadow was followed by a positive slope widening at the Stochastic RSI. Technically, there is an opportunity for the JCI to test 6,900 - 6,930 on Tuesday 15 August.
"From the external side, there is a recovery in retail sales in China that has the potential to be a positive sentiment," explained Pintraco Sekuritas' research.
China's retail sales are estimated to grow 4.5 percent Year on Year (YoY) in July 2023 compared to 3.1 percent YoY in June 2023.
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Meanwhile, from within the country, market participants anticipate data on the Trade Balance which is estimated to have a surplus of 2.53 billion US dollars in July 2023. However, the export value is estimated to fall 18.3 percent yoy in July 2023, improving compared to the 21.18 percent decline in June 2023.
The stocks recommended for today include ASII, INCO, WIFI, INDF, AMRT, ANTM, SMGR, and INTP.
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