JCI At The Beginning Of The Week Potentially Corrected, Check Out Stock Recommendations

Illustration. (Photo: Doc. Antara)

JAKARTA - The Composite Stock Price Index (JCI) is predicted to be corrected to the level of 7,100 in today's trading, Monday, January 29. What about the stock recommendation?

Research team Phintraco Sekuritas said the JCI is expected to support the support test to the level of 7,100 with resistance at 7,200 and pivot at the level of 7,150.

"So the JCI is expected to continue to weaken support tests 7,100 on Monday," said research by Phintraco Sekuritas.

At the close of trading on Friday, January 26, the JCI weakened to the level of 7,137. Technically, the RSI Stochastic returned to the oversold area supported by the widening of the negative slope on MACD.

From external, investors are still digesting the results of the GDP in the fourth quarter of 2023 that has been released showing that the US economy is expanding 3.3 percent QoQ, higher than the estimate of 2.0 percent QoQ.

Then this week a number of important economic data will be released. From Europe, the GDP for the fourth quarter of 2023 will be released which is estimated to still slow down to -0.1 percent QoQ. Then from Germany, GDP and inflation data will be released.

In addition, investors are also waiting for the results from the FOMC in February regarding the policy direction of the Fed in the future. From within the country, investors are waiting and see the release of the fourth quarter/2023 financial report starting from the banking sector.

In line with these predictions, Phintraco securities recommended several stocks for today's trading, namely ADRO, MTEL, ANTM, TKIM, SMGR, ELSA and TLKM.