JCI on Thursday Prone to Consolidation, These 7 Shares Are Recommended

Illustration. (Photo: Doc. Antara)

JAKARTA - Movements in the Composite Stock Price Index (IHSG) are predicted to be prone to consolidation in today's trading, Thursday 21 December. Phintraco Sekuritas estimates that JCI today will move at resistance 7,250 and support 7,150.

Phintraco Sekuritas explained that JCI recorded resistance breakout at 7,200 in trading last Wednesday. However, Stochastic RSI and MFI are starting to slope.

"This indicates that the JCI is prone to consolidation today at around the 7,200 level, especially since there is negative direction from Wall Street," wrote Phintraco Sekuritas in its research.

Regarding external economic data, Phintraco Sekuritas said that the US would release a number of economic data this Thursday. One of them is data from the US GDP Growth Rate QoQ Final which is estimated to increase to 5.2 percent in the third quarter of 2023 from 2.1 percent in the second quarter of 2023.

Meanwhile, from within the country, Phintraco Sekuritas said that Bank Indonesia (BI) would hold a board of governors (RDG) meeting to decide on domestic monetary policy on Thursday.

"BI is expected to follow the decisions of a number of other central banks by holding the benchmark interest rate at the current level of 6 percent," explained Phintraco Sekuritas.

Phintraco Sekuritas recommends that seven stocks can make a profit in today's trading, namely INDY, SMGR, JPFA, INTP, MTEL, UNTR, and ITMG.