JAKARTA - The Composite Stock Price Index (JCI) has the potential to move to consolidate in the range of 7,250 - 7,330 in today's trading, Tuesday, February 26.
The Phintraco Sekuritas Research Team views that technically the tendency for consolidation is shown by the widening of the negative slope in MACD, along with the formation of a star doji pattern in trading, last Monday.
Phintraco Sekuritas stated that some external economic data was not very good. Germany Gfk Consumer Confidence is estimated to be still negative (-29) in March 2024, not much different from the conditions in February 2024 (-29).
"From the US, the utility goods order is estimated to fall to 4.8 percent MoM in January 2024, compared to stagnant conditions [0 percent] in December 2023. However, US Consumer Confidence is relatively stable at 114.8 in February 2024," wrote Phintraco in his research.
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Meanwhile, from within the country there is not much data this week, except for inflation on the weekend of March 1, which is estimated to remain stable in the range of 2.5 percent year-on-year (YoY). This means that inflation is still within the assumption limit of the 2024 State Budget.
For today's trading, Phintraco said investors could pay attention to buying opportunities for BBNI, CPIN, and JPFA, as well as speculative buys for WEHA and CHEM.
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