JAKARTA - The Composite Stock Price Index (JCI) is predicted to continue rebound today, Thursday, October 12. JCI is expected to move on resistance at 6,950, pivot 6,900, and support at 6,850 today.
Phintraco Sekuritas in his research explained that the JCI received positive directions from Wall Street yesterday. The JCI is expected to continue testing the 6,950 pivot today.
"Technically, the positive slope widening in MACD validates the Stochastic RSI which is still moving up indicating the potential rebound," wrote Phintraco Sekuritas.
From external, Phintraco Sekuritas said investors anticipate the release of US inflation data, Initial Jobless Claims and Risal FOMC last September. The data can provide clues regarding the prospects for the Fed's benchmark interest rate.
From the region, the potential for economic improvement in China began to be seen from China's estimated increase in the New Yuan Loans to 2,500 billion Yuan in September 2023.
From within the country, Phintraco Sekuritas said, the potential for further strengthening of the shares of the Infrastructure sector helped support the JCI today.
"The strengthening is based on expectations of improving the majority debt rate of construction issuers in line with the stipulation of PMN for the 2023-2024 fiscal year," explained Phintraco Sekuritas.
Phintraco Sekuritas recommends seven stocks, including AMRT, ERAA, ITMG, MIDI, PTPP, WIKA, and SSIA.
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