IHSG on Tuesday is Projected to Move in the Range of 7,250-7,350, These Five Stocks Could Be Options

Illustration. (Photo: Doc. Antara)

JAKARTA - The Composite Stock Price Index (IHSG) strengthened by 0.1 percent or 0.73 points to 7,288.9 in yesterday's trading, Monday, July 29. So what about the movement of IHSG today, Tuesday, July 30?

Phintraco Sekuritas in its research saw that IHSG closed flat at 7,288.9 on Monday's trading. Technically, there is a widening of the negative slope on the MACD indicator which indicates a potential weakening.

"However, the Stochastic RSI indicator is experiencing a golden cross which indicates a potential strengthening. So IHSG will potentially consolidate in the range of 7,250-7,350 levels on Tuesday's trading (30/7)," explained Phintraco Sekuritas research.

From the global side, the market is awaiting the release of CB Consumer Confidence data for July in the US on Tuesday which is expected to fall to a pessimistic level of 99.5 from 100.4 in June 2024. The data is believed to strengthen the chances of a Federal Reserve interest rate cut in September 2024.

In addition, the market is also awaiting the release of Flash GDP growth data for the second quarter in the Euro Area and Germany which is scheduled for release this Tuesday.

"The market expects Flash GDP growth in the Euro Area and Germany to strengthen YoY but weaken QoQ," he said.

From the regional side, the market is awaiting the release of June unemployment rate data in Japan which is scheduled for release on Tuesday with an estimated stable figure of 2.6 percent. Meanwhile, from the domestic side, the market is still anticipating the release of the financial performance of a number of issuers in the second quarter of 2024.

The stocks recommended by Phintraco Sekuritas include AUTO, BFIN, SMRA, CTRA, and PWON.