Check out JCI Predictions and Stock Recommendations Today

Illustration. (Photo: Doc. Antara)

JAKARTA - The Composite Stock Price Index (IHSG) has the potential to consolidate in the range of 7,160 – 7,260 in today's trading, Thursday 11 January. The Phintraco Sekuritas Research Team views that the JCI is expected to move sideways in the consolidation range of 7,200-7,300 on Wednesday after the rebound in previous trading.

"Technically, the slope of the Stochastic RSI and MACD indicators has decreased so the opportunity for JCI to consolidate will be greater," wrote Phintraco Sekuritas research.

Domestically, the Real Sales Index (IPR) data released for December 2023 was at 217.9 or grew by 0.1% year-on-year (YoY). This index strengthened from the November 2023 period, namely 207.9, driven by increasing growth in sales of motor vehicle fuel as well as food, beverages, and tobacco.

On the other hand, global market players anticipate US inflation data which will have a big influence on the Fed's future interest rate policy. Meanwhile, Bank of England Governor Andrew Bailey will make a speech that is likely to provide some indication regarding the timetable for cutting interest rates.

With all these sentiments, Phintraco Sekuritas has made a buy on support recommendation such as INTP and is paying close attention to ADMR, BTPS, MIKA, ERAA, and ANTM shares.

Meanwhile, the Yugen Bersinar Sekuritas Research Team assesses that the JCI movement is currently going through a technical rebound phase, after being corrected some time previously.

"As long as the nearest resistance level cannot be penetrated, the JCI still has the potential to weaken again," wrote the research.

However, the strong fundamentals of the Indonesian economy also contributed to the increase in the JCI. This can be seen from economic data that was released some time ago. Apart from that, the recorded capital inflow year-to-date (YtD) also shows investor confidence in the Indonesian capital market.

Yugen recommends AALI, SMGR, AKRA, ICBP, JSMR, BMRI and TLKM shares.