JCI Tuesday Projected To Rebound, Check Out Recommended Stocks

Illustration. (Photo: Doc. Antara)

JAKARTA - The movement of the Composite Stock Price Index (JCI) is expected to rebound in today's trading, Tuesday, April 23.

Phintraco Sekuritas in his research said that yesterday the JCI moved fluctuatingly, in the midst of reading the Constitutional Court's decision regarding the dispute over the results of the General Election or Election. Phintraco Sekuritas estimates that the JCI can rebound today.

"If the JCI stays above the 7.075 support line tomorrow, the JCI will have the opportunity to record a follow-up rebound on Tuesday," wrote research research Phintraco Sekuritas.

Phintraco Sekuritas sees the JCI's rebound potential in the range of 7,100. JCI resistance is expected to be at the level of 7,150, with support at 7,050.

From within the country, continued Phintraco Sekuritas, the Constitutional Court's decision is expected to provide certainty or reduce the uncertainty risk of the elections in Indonesia.

Phintraco Sekuritas sees this condition as potentially reducing capital outflows from the Indonesian Capital Market in the short term. The rupiah exchange rate rose by a limited value of 0.123 percent to Rp. 16,230 per US dollar until Monday afternoon.

Still from within the country, positive sentiment also comes from the realization of the Indonesia Trade Balance (NPI) surplus of 4.47 billion US dollars in March 2024. This performance is in line with the realization of a 4.19 percent yoy decline in export value in March 2024 which was better than a decrease of 9.60 percent yoy in February 2024.

From external, the market anticipates the realization of the service sector index in the Euro Area, Germany, Britain, and the US in April 2024. The majority showed improvement although not too significant compared to the previous period.

The stocks recommended by Phintraco Sekuritas today include PTPP, MYOR, EXCL, HRUM, NCKL, and DSNG.