This is Thursday's JCI Prediction, Check out the Stock Recommendations

Illustration. (Photo: Doc. Antara)

JAKARTA - The Composite Stock Price Index (IHSG) is predicted to consolidate in trading today, Thursday 7 December. Phintraco Sekuritas predicts that JCI will move at resistance 7,150, pivot 7,100, support 7,050.

"This is based on the overbought condition shown by the Stochastic RSI," wrote Phintraco Sekuritas in its research.

Externally, Phintraco Sekuritas explained that recent indications of a decline in labor sector conditions in the United States (US) increase the Fed's chances of holding the benchmark interest rate at the FOMC on December 13 2023. Externally, investors are also looking forward to the release of economic growth data for the third quarter of 2023. in the Euro Area which is estimated to contract to minus 0.1 percent qoq from the previous 0.2 percent qoq.

"This condition is likely to increase pressure for the ECB to hold its benchmark interest rate at the December 2023 meeting," added Phintraco Sekuritas.

With these sentiments, Phintraco Sekuritas assessed that BI also held the benchmark interest rate at 6 percent in the December 2023 RDG. This condition triggered the strengthening of the rupiah exchange rate to a level of IDR 15,490 per US dollar on Wednesday afternoon.

Phintraco Sekuritas recommends shares that could become a place for profit today, namely ACES, ADMR, BMRI, EXCL, GGRM, SRTG and KLBF.