JAKARTA - The Composite Stock Price Index (JCI) is projected to continue to strengthen in trading earlier this week, Monday, July 29, after last weekend's increase of 0.66 percent or 47.890 to 7,288,167.
Phintraco Sekuritas in its research said that the JCI is projected to strengthen in the range of 7,300 to 7,330 in today's trading. The strengthening will strengthen indications of bullish continuation.
"JCI tested resistance at 7,300 in Friday's trading. Technically, the technical rebound canceled the potential for bearish reversal," explained Phintraco Sekuritas.
The market is still anticipating two important data, namely Foreign Direct Investment (FDI) and financial performance in the second quarter of 2024. Furthermore, BPS is scheduled to release the realization of 2Q24 economic growth on August 5, 2024.
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Based on the condition of the consumer confidence index which is still consistent in the range 120 to June 2024 and improvements in export performance in May and June 2024, it is believed that economic growth can still be maintained above 5% in the second quarter of 2024.
In line with this projection, Phintraco recommended several stocks for Monday's trading, including ADMR, AKRA, INCO, BRIS, SIDO and NCKL.
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