JCI Tuesday Influenced By Several Global Distributements, Check Out Stock Recommendations

Illustration. (Photo: Doc. Antara)

JAKARTA - The Composite Stock Price Index (JCI) strengthened 0.09 percent or 6,121 points to 6,866.03 at the end of trading Monday 21 August. Phintraco Sekuritas in his research predicts the JCI is in the consolidation phase in today's trading, Tuesday 22 August.

"This can be seen from the movement of MFI and MACD which tend to move flat. However, the Stochastic RSI indicator shows a possible decline in the oversold area," explained the research of Phintraco Sekuritas.

Bank Rakyat China (PBoC) has lowered interest rates for a one-year loan to 3.45 percent on Monday. Even so, interest rates for five-year loans remain at 4.2 percent.

"This cuts is an effort to increase credit demand amid property market concerns, a decline in demand and a slowdown in credit growth in China," explained research by Phintraco Sekuritas.

Domestically, economic conditions seem stable. However, global economic uncertainty has reduced investor optimism regarding Bank Indonesia (BI) policies. The difference in interest rates between BI and the Fed is almost zero. It is predicted that BI will still maintain its benchmark interest rate at the BI Board of Governors' Meeting (RDG) on August 24, 2023.

JCI is predicted to move in consolidation in the range of 6,840-6,890 this Tuesday. The stocks that have the potential to rebound according to Phintraco Sekuritas include BUKA, HRUM, RMKE, ESSA, ENRG, and BUMI.