Here's The Prediction Of The JCI Movement On Thursday, Check Out The Stock Recommendations

Illustration. (Photo: Doc. Antara)

JAKARTA - The Composite Stock Price Index (JCI) closed up 0.24 percent or 17,240 to 7,287,042 points at the end of the match on Wednesday, July 10 yesterday. So what about the JCI prediction today, Thursday 11 July?

Phintraco Sekuritas, in his research saw technically the JCI formed a spining top pattern accompanied by MACD indicators moving sideaways. In addition, the market is also expected to wait and see the release of US Inflation data this Thursday.

"So, we estimate that the JCI will experience consolidation in the range of 7,250-7,300," explained the research of Phintraco Sekuritas.

Markets in the European Region will be busy with several important data releases from Germany and the UK. The UK is scheduled to release the GDP for May which is expected to grow to a level of 1.20 percent from the previous 0.60 percent. GDP growth shows an economic improvement in the UK which was in danger of a recession.

"In addition, the market is also looking forward to releasing inflation data for June in Germany which is expected to drop to 2.20 percent from the previous 2.40 percent," he said.

Meanwhile, from America, the market is also looking forward to releasing inflationary data in June which is expected to drop to a level of 3.10 percent from the previous 3.30 percent. The decline in inflation puts additional pressure on the Fed to immediately cut interest rates, given the inflation target has approached the range of 2 percent and the unemployment rate rising to the level of 4.10 percent.

Meanwhile, Phintraco Sekuritas recommends five stocks that have the potential to pay today, namely EXCL, ISAT, TLKM, MAPI and CPIN.