JCI Is Predicted To Be Fluctuating On The Range Of 7,220, These Are Recommended Stocks

Illustration. (Photo: Doc. Antara)

JAKARTA - The Composite Stock Price Index (JCI) is predicted to move in the range of 7,220 in today's trading, Friday, January 12, after yesterday's reddening or falling 0.10 percent to the level of 7,219.96.

Phintraco Sekuritas in its research estimates that the JCI will fluctuate again in the range of 7,220, where technically, this happens because the selling pressure is indicated to subside in line with the potential golden cross in the oversold area in Stochastic RSI.

"As long as the JCI survives above the MA20, the JCI maintains a bullish continuation opportunity," explained the research of Phintraco Sekuritas.

Meanwhile, regionally, the sentiment affecting the JCI stems from China's Deputy Prime Minister He Lifeng's statement that the Chinese government is trying to make it easier for foreign companies to invest in the Chinese capital market.

According to him, this condition has sparked concern about capital outflows from the Indonesian capital market. However, on the other hand, the Chinese government's efforts can also increase the investment opportunities of Chinese companies in the regional capital market, including Indonesia.

According to Phintraco Sekuritas, the top picks or share options today include shares of PT Bank Rakyat Indonesia Tbk (BBRI), and PT Sarana Menara Nusantara Tbk (TOWR).

Then, the next preferred shares are from a number of energy stocks such as shares of PT Medco Energi Internasional Tbk (MEDC), PT Elnusa Tbk (ELSA), PT Harum Energy Tbk (HRUM) and PT Pertamina Geothermal Energy Tbk (PGEO).