JCI Potentially Rebound Today, Check Out Stocks That Can Be An Option

Illustration. (Photo: Doc. Antara)

JAKARTA. The Composite Stock Price Index (JCI) fell slightly again by 0.08 percent or decreased by 5.594 points to 6.850.10 at the time of closing trading on Wednesday, June 12. Phintraco Sekuritas in his research predicts the JCI will strengthen back in today's trading, Thursday, June 13.

Technically, there is an initial signal rebounding with the formation of a spining bottom pattern, while the Stochastic Relative Strength Index (RSI) is in an oversold area. According to him, the JCI has the potential to consolidate in the area of 6,820 - 6,880.

"If you can breakout 6,900 in line with the decreasing selling pressure, then the JCI validation can rebound," explained the research of Phintraco Sekuritas.

Globally, the market will tend to wait and see the Fed's decision on interest rates at Thursday's Federal Open Market Committee (FOMC) meeting. In addition, the Fed is expected to provide an overview of the opportunity to cut interest rates this year.

Di sisi lain, di Amerika Serikat (AS) terdapat rilis data Core Inflation tahunan atau Year on Year (YoY) dan Headline Consumer Price Index (CPI) YoY yang diperkirakan masing-masing di level 3,5 persen dan 3,4 persen.

The realization of inflation, which is in the range of the Fed's target, will provide a positive catalyst for the potential end of hawkish the Fed's stance, explained the research of Phintraco Sekuritas.

From the European region, there is a release of Industrial Production data in April 2024 which is expected to increase by 0.2 percent on a monthly basis or Month on Month (MoM) from March 2024. YoY is expected to still slow down at the level of -1.9 percent YoY.

Despite this, the MoM increase still indicates the expectation of a positive trend to continue the recovery of industry in Europe.

Meanwhile, from the region, there was a release of New Yuan Loans data in May 2024 which was estimated at 1,300 billion yuan from the previous 730 billion yuan in April 2024.

This increase is in line with the efforts of the People's Bank of China (PBOC) to encourage banks to accelerate lending to support the weakening business sector.

Although this estimate shows improvement, the estimated loan value is still below the CNY 1.36 trillion issued in May 2023.

The stocks recommended by Phintraco Sekuritas today include ADMR, ADRO, MAPI, INDF, and ANTM.