JCI Prone To Weaken, What Shares Are Analysts Recommended?

Illustration. (Photo: Doc. Antara)

JAKARTA - The Composite Stock Price Index (JCI) strengthened at the close of trading on Tuesday, October 17. The index rose 0.63 percent or 43.32 points to 6,939.61.

Phintraco Sekuritas in his research said that the JCI managed to break the long upper shadow series by forming a whitemarubozu on Tuesday.

One of the positive sentiments stems from the projected increase in retail sales growth in China to 4.9 percent YoY (year on year) in September 2023 from 4.6 percent YoY in August 2023, although economic growth is expected to slow down to 4.4 percent YoY in Q3-2023 from 6.3 percent YoY in Q2-2023.

"In addition to retail sales data, a number of important Chinese economic data are scheduled to be released on Wednesday," explained Pintraco Sekuritas research.

As for domestically, the perpetrators began to anticipate the period of financial release, such as the financial statements of PT Bank Negara Indonesia Tbk (BBNI), PT Bukit Asam Tbk (PTBA), PT Unilever Indonesia Tbk (UNVR), PT Bank Cimb Niaga Tbk (BNGA), Aneka Tambang Tbk (ANTM) and PT Bank Tabungan Negara Tbk (BBTN) including issuers scheduled to release third quarter 2023 financial reports next week.

Therefore, the shares of the choice of Phintraco Sekuritas include PT Pertamina Geothermal Energy Tbk (PGEO), PT Adaro Minerals Indonesia Tbk (ADMR), PT AKR Corporindo Tbk (AKRA).

Then there is the potential for further rebounds in PT Unilever Indonesia Tbk (UNVR), PT Mayora Indah Tbk (MYOR) and PT Indofood Sukses Makmur Tbk (INDF).