JCI Monday Has the Potential to Rebound, Here are 5 Recommended Stocks

Illustration. (Photo: Doc. Antara)

JAKARTA - The Composite Stock Price Index (IHSG) is projected to rebound to level 6,950 in trading at the start of the week Monday, October 2. Today's JCI will be influenced by inflation data and foreign exchange reserves.

Phintraco Sekuritas in its daily research said that the potential for JCI to strengthen is supported by indications of oversold or correction saturation limits on the RSI stochastic. Meanwhile, the JCI movement is predicted to receive positive sentiment from data on the Indonesian inflation rate, which is estimated to drop significantly to the level of 2.25 percent year-on-year in September 2023, from the previous month's 3.27 percent.

"On the other hand, the core inflation rate was also observed to be relatively stable at the level of 2.1 percent in September 2023. This figure shows that the decline in inflation tends to be caused by a decline in prices rather than a decline in domestic consumption," explained research by Phintraco Sekuritas.

Meanwhile, from abroad, China's manufacturing data is expected to return to the expansive limit (50) in September 2023 and is predicted to provide positive sentiment for the domestic capital market.

Some of the shares chosen by Phintraco Sekuritas for trading tomorrow are MAPI, ESSA, PGAS, BRIS, ITMG, and PTBA.