JCI On Thursday Is Covered In Sentiment Of The Fed And Rupiah Exchange Rate, Check Out The Recommended Stocks

Illustration. (Photo: Doc. Antara)

JAKARTA - Phintraco Sekuritas in its research, predicts the JCI will test resistance at 7,200 for today's trading, Thursday, May 16.

Phintraco Sekuritas explained that the JCI received positive directions from the majority of the global index.

"Technically, yesterday's strengthening of the JCI pushed for positive slope widening in MACD which validated the formation of gold cross at the pivot level at Stochastic RSI," wrote Phintraco Sekuritas in his research.

Phintraco Sekuritas added that today's JCI movement will reflect market responses to the increased chance of cutting the Fed's benchmark interest rate at FOMC September 2024. The Rupiah exchange rate is estimated to strengthen in the short term or at least strengthen the Rupiah below Rp16,200 per US dollar.

"Shares of rates, especially in the banking sector, can be considered again," added Phintraco Sekuritas.

From the Asian region, Phintraco Sekuritas said, Japan will release a realization of economic growth in the first quarter of 2024 which is estimated to be worse than the fourth quarter of 2023. This condition is accompanied by a tendency to capital outflow from the capital market.

"In the short term, this may have an impact on inflowing into Indonesia or at least reducing the outflow that has occurred in the past month," explained Phintraco Sekuritas.

Phintraco Sekuritas recommends six shares for today, namely BMRI, BRIS, BBTN, MDKA, BRPT, and AUTO.