JAKARTA - The movement of the Composite Stock Price Index (JCI) closed down 0.27 percent to the level of 7,155.29 on Thursday, April 25. JCI is expected to move fluctuating again in the range of 7,150 - 7,200 in today's trading, Friday 26 April.
Phintraco Sekuritas in his research saw that technically the Stochastic Relative Strength Index (RSI) indicator was still moving up by penetrating the 50 percent pivot. There is a dragonfly doji pattern, so according to him, the JCI can maintain the opportunity to test area resistance at the level of 7,175 - 7,200 this Friday.
From domestic, there was a weakening of the bank's share price on Thursday, after the decision to increase the benchmark interest rate of Bank Indonesia (BI) on Wednesday, April 24. This condition coincided with the weakening of the rupiah exchange rate by 0.20 percent to Rp. 16,188 per US dollar on Thursday.
"The domestic financial market still seems to need time to respond to BI's latest monetary policy," explained Pintraco Sekuritas research.
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In the future, the market will pay close attention to the progress of the data and the conditions above. Meanwhile, from the global aspect, the direction of policy for benchmark interest rates in Europe can be the most observed external factor today.
The stocks recommended by Phintraco Sekuritas today include ICBP, INDF, MYOR, ESSA, and HRUM.
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