JAKARTA - The Composite Stock Price Index (JCI) is projected to weaken limited to today's trading, Friday, July 12. Stocknow in its research said that the JCI today will move to test the classic support level at the level of 7,275 and resistance at the level of 7,350.
Stocknow explained that the sentiment that caused the weakening of the JCI was profit taking. After the United States (US) announced that the June inflation rate had fallen to the level of 3 percent Year on Year (YoY).
"Of course this is one way of mitigating investors to avoid fluctuating stock prices while announcements from the Fed regarding US interest rates," wrote Stocknow research.
Meanwhile, technically the JCI is still held back at its psychological resistance at the level of 7,300, so the JCI is very vulnerable to a decline today. On the other hand, Big Caps shares simultaneously weakened, such as BBCA, BREN, and BBRI.
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Stocknow recommends four stocks for trading today, namely PGAS, JPFA, KLBF, and EMTK.
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