This is Tuesday's JCI Prediction and Recommended Stocks

Illustration. (Photo: Doc. Antara)

JAKARTA - In trading earlier this week, the Composite Stock Price Index (IHSG) closed down 0.99 percent to level 7,088. GOTO shares fell 20.37 percent, which was one of the triggers for the weakening of the JCI Monday, December 11.

It was recorded that 137 shares rose, 439 shares weakened, and 190 shares stagnated. In the midst of the decline in the JCI, foreign investors carried out net sales of IDR 627.35 billion.

Responding to this condition, Phintraco Sekuritas in its research assessed that the weakening of the JCI brought the index back below the psychological level of 7,100.

"Apart from the normal pullback along with the formation of a death cross in the overbought area on the Stochastic RSI, the weakening was also triggered by selective selling in shares of PT GoTo Gojek Tokopedia Tbk (GOTO)," explained Phintraco Sekuritas.

GOTO's share price fell by 20.37 percent with a transaction value of more than IDR 3 trillion, following the announcement of a collaboration between TikTok and Tokopedia.

On the other hand, bank shares, especially large capitalization banks (big caps), maintain the opportunity for a rebound ahead of the release of the results of the meeting of the United States Central Bank, the Federal Reserve and the European Central Bank (ECB) this week, as well as the board of governors (RDG) meeting. Bank Indonesia (BI) next week.

JCI is expected to move in the support range of 7,050 with resistance of 7,150 today, Tuesday 12 December. Buy on support opportunities can be seen in big 4 bank shares, namely BBNI, BBCA, BBRI and BMRI.

"Stock alternatives outside banking are AKRA, MTEL, INDF and JPFA," explained Phintraco Sekuritas research.