JAKARTA - The Composite Stock Price Index (JCI) is predicted to test resistance levels at 7,650 in today's trading, Tuesday, August 27. JCI is expected to move in the resistance range of 7,650, pivot 7,600, support 7,550 today.
Phintraco Sekuritas in his research explained that the JCI again tested resistance 7,600 on Monday. Technically, there is a positive scale widening in the MACD indicator even though the Stochastic RSI indicator is in the overbought area.
"Thus, if the JCI is able to survive above the 7,600 level, the JCI today has the potential to continue strengthening the 7.650 test," wrote Phintraco Sekuritas.
Phintraco Sekuritas added that the market anticipates the release of US CB Consumer Confidence data in August 2024 in the United States (US) this Tuesday, which is expected to remain at an optimistic level of 100.1 although slightly lower than the previous level at 100.3 in July 2024.
"From Europe, Germany is scheduled to release data on final economic growth in the second quarter of 2024 which is estimated to still contract (-0.1 percent YoY)," explained Phintraco Sekuritas.
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From the region, Phintraco Sekuritas said, the market is looking forward to the release of YTD Industrial Profits data in China in July 2024 which is scheduled to be released today. The data is believed to affect China's economic growth outlook in Semester II-2024.
The stocks recommended by Phintraco Sekuritas today include ESSA, MDKA, SMRA, BNGA, ANTM, and BBTN.
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