JCI Wednesday Projected To Continue Strengthening, These Three Stocks Are Recommended

Illustration. (Photo: Doc. Antara)

JAKARTA - The Composite Stock Price Index (JCI) is projected to strengthen in today's trading, Wednesday, April 3, after yesterday's increase of 0.44 percent or 31.92 points to the level of 7,236.95.

JCI is projected to continue its strengthening with support at 7,174 and resistance at the level of 7,244.

MNC Sekuritas analyst Herditya Wicaksana said the JCI movement was still influenced by the movement of world commodity prices and the rupiah exchange rate. The potential for continuing strengthening is in line with the sentiment that comes from strengthening the Asian regional market.

MNC Sekuritas said, global market participants are looking forward to releasing data on the United States (US) labor market, which has an impact on the expectations of a decline in interest rates by the Fed. Meanwhile, from domestic, BPS recorded an increase in inflation rate in March 2024 by +3.05 percent year on year (YoY).

This increase in inflation was influenced by the food, beverage and tobacco group sector which contributed 2.09 percent with an inflation rate of +7.43 percent YoY. The increase in inflation in this sector was influenced by the increase in rice, chicken and red chili prices, along with the momentum of Ramadan.

Herditya said that stocks that can be observed for trading on Wednesday include ASII with a target price of Rp5,400-Rp5,450, BBRI ranging from Rp5,750-Rp5,825, and ANTM at a price of Rp1,675-Rp1,700.