Euphoria From The US Is Predicted To Make The JCI Continue Strengthening, These Five Stocks Could Be An Option

Illustration. (Photo: Doc. Antara)

JAKARTA - Phintraco Sekuritas in its research predicts the Composite Stock Price Index (JCI) will continue to strengthen in today's trading, Monday 8 July. JCI is expected to move in the resistance range of 7,250, pivot 7,200, and support 7,140.

"The movement of the JCI was driven by euphoria from the United States (US). However, be aware of the potential for pullback in the middle until this weekend. JCI is estimated to move in the range of 7,250-7,140 this week," wrote Phintraco Sekuritas in his research.

According to Phintraco Sekuritas, Nasdaq is again leading the strengthening of Wall Street indexes in trading Friday, July 5. The market seems to be responding positively to the latest weakening of labor data in the US. US The University Rate rose to 4.1% in June 2024 from 4% in May 2024. This condition coincides with the relatively high condition of US Initial Jobbless Claims in June 2024.

"The data increases the opportunity to significantly cut the Fed's benchmark interest rate to 72 percent in September 2024 (CME FedWatch Tools)," said Phintraco Sekuritas.

From Europe, continued Phintraco Sekuritas, the opposition party, Labor Party recorded a landslide victory in the election. This victory is the first time in 14 years. This condition triggers expectations of potential significant changes in the future policy direction of the British Government.

Phintraco Sekuritas explained that the opportunity to cut the Fed's benchmark interest rate and increase uncertainty risk in Europe has the potential to encourage the continued strengthening of the Rupiah exchange rate in line with the capital flow to the Indonesian capital market in the past week.

Phintraco Sekuritas recommends, in addition to bank shares, it is also necessary to pay attention to stocks such as INCO, MEDC, AMRT, ICBP, TLKM and EXCL.