JCI Thursday Is Predicted To Strengthen, These Seven Stocks Could Be Options

Illustration. (Photo: Doc. Antara)

JAKARTA - The Composite Stock Price Index (JCI) is predicted to continue strengthening in today's trading, Thursday, March 7, after parking in the green zone yesterday. The Phintraco Sekuritas research team said the JCI closed higher in the pivot area of 7,330 on Wednesday. Technically, the formation of White Marubozu is a further rebound signal. "This is in line with the golden cross on the Stochastic RSI in the oversold area along with MACD which is experiencing a negative slope narrowing," said Phintraco Sekuritas in his daily research. As a result, the JCI is expected to continue its strengthening in areas 7,350 to 7,370 this Thursday. The JCI resistance level is predicted at 7,370, the pivot level at 7,330 and the support level at 7,250. From global sentiment, in the United States (US) investors are waiting for the release of Initial Jobless Claims data in the first week of March 2024 on Thursday which is projected to be the same as the end of February 2024, which is 215,000. Meanwhile, Non Farm Payroll (NFP) data which will be released on Friday, March 8 is also expected to drop significantly in 160,000 in February 2024 from the previous 353,000. Thus, investors believe that the minutes of Fed Chairman Jerome Powell's speech will be more dovish. Still from global sentiment, investors await the European benchmark interest rate decision by the European Central Bank (ECB) tomorrow, which is expected to keep its benchmark interest rate at 4.5 percent in line with inflation levels at 2.6 percent in January 2024. Thus, according to him, investors are more focused on projecting the ECB on economic conditions in Europe and are waiting for new clues regarding the decline in interest rates

Meanwhile, from within the country, this Thursday there was a release of Indonesia's foreign exchange reserves data in February 2024 which is expected to fall in line with BI's market interventions during last month in the foreign exchange market and bonds to stabilize the rupiah exchange rate. However, Indonesia's foreign exchange reserves are still expected to remain above the international adequacy standard, namely three months of imports. As a result, with a series of sentiments, Phintraco Sekuritas recommends stocks that can be observed in today's trading, namely ANTM, ASSA, TLKM, AGRO, BBTN, and ENRG.