JCI Tuesday Still Vulnerable To Weakening, These Five Stocks Could Be Options

Illustration. (Photo: Doc. Antara)

JAKARTA - The Composite Stock Price Index (JCI) closed down 0.66 percent or 48.716 points to the level of 7,278.863 until the end of the trial Monday 15 July. So what about the JCI projection today, Tuesday 16 July?

Phintraco Sekuritas in his research saw the JCI experience a significant pullback on Monday. One of the triggers is a technical factor with positive slope narrowing in MACD along with overbought conditions in Stochastic RSI.

"JCI is still prone to continued pullbacks to around 7,250-7,230 on Tuesday," explained Phintraco Sekuritas.

In addition to technical factors, according to Nurwachidah, the market responded to the realization of China's economic growth of 4.7 percent yoy in the second quarter of 2024, down far from 5.3 percent yoy in the first quarter of 2024. This realization under expectations sparked concerns about China's economic outlook.

In addition, still from the external side, the attempted assassination of a US Presidential Candidate, Donald Trump, sparked more extreme award looking policy concerns if Trump wins the US Presidential Election in November 2024.

"The negative impact on world trade is feared to be more significant than the first period of Trump's leadership," he said.

Meanwhile, from domestic, Phintraco sees the export value growing 1.17 percent yoy in June 2024, much lower than expected, which is 5.13 percent yoy. This condition also triggered profit-taking on Tuesday.

According to Phintraco Sekuritas, the shares contributed today include ICBP, INKP, BBYB, MNCN and JPFA.