JCI In Early February Has The Potential To Strengthen, Check Out Recommended Shares

Illustration. (Photo: Doc. Antara)

JAKARTA - The Composite Stock Price Index (JCI) is predicted to strengthen in early trading in February 2024, after yesterday's increase of 0.22 percent or 15.72 points to 7,207.94 until the end of trading on the Indonesia Stock Exchange (IDX).

Phintraco Sekuritas in its research predicts the JCI will continue strengthening with a support range of 7,150 and resistance of 7,250 this Thursday.

From external, data released in the United States on Tuesday showed consumer confidence was increasing to its highest level, to 111.8 levels in January compared to last December 2023.

"This data also shows a downward trend in inflation. Other data, investors are waiting for the release of German inflation on Wednesday night which is expected to fall from 3.7 percent YoY in December 2023 to 3 percent YoY in January 2024," explained Pintraco Sekuritas research.

Domestically, there will be a release of inflation data this Thursday which is projected to be more gentle than the previous period at the level of 2.55 percent, so that this economic data can be used as a reference at the Board of Governors of Bank Indonesia (RDG-BI) meeting regarding interest rate decisions in the coming months.

Meanwhile, Phintraco Sekuritas recommends several stocks for today, namely PGAS, MYOR, EXCL, PWON, ACES, BIRD, and WIIM.