JAKARTA - The Composite Stock Price Index (JCI) is predicted to rebound in today's trading, Friday, June 14. Phintraco Sekuritas in its research estimates the JCI will move at 6,900 resistance, 6,850 pivot, and 6,800 support.
JCI has the opportunity to avoid loss of momentum following changes in market views on the direction of monetary policy for the Fed based on the latest economic data in the United States (US) on Thursday. This is because technically the JCI has been indicated to be very oversold (Stochastic RSI almost 0 percent).
"Thus, today's JCI has a limited technical rebound opportunity to return to the 6,850 pivot," wrote Phintraco Sekuritas.
Phintraco Sekuritas added that the Rupiah exchange rate rose slightly to Rp16,265 per US dollar (down 0.15 percent) on Thursday afternoon. This condition may continue on Friday following the latest sentiment in the US.
"Technical rebounds in a number of bank and blue chip stocks may continue today," added Phintraco Sekuritas.
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From the region, Phintraco Sekuritas said, the potential for improving sentiment stems from the projection that BoJ will hold the benchmark interest rate at the level of 0.1 percent at this Friday meeting.
Phintraco Sekuritas recommends seven stocks to be considered today, namely ASII, BBCA, BBNI, BRIS, BBTN, TKIM and SCMA.
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