Six Stocks Worth Paying Attention To In The Midst Of The Fluctuating JCI Movement Today

Illustration. (Photo: Doc. Antara)

JAKARTA - The Composite Stock Price Index (JCI) is predicted to fluctuate in today's trading, Wednesday, September 18. Phintraco Sekuritas estimates the JCI will move in the resistance range of 7,850, pivot 7,800, and support 7,750.

Phintraco Sekuritas in his research said the JCI was limited in trading last Tuesday, although the latest domestic sentiment was relatively positive. This movement strengthens the consolidation indications of sideways movement in MACD.

"Therefore, the JCI is expected to fluctuate today in the range of 7,800-7,850," wrote Phintraco Sekuritas.

Phintraco Sekuritas added that the domestic economic data in question is an increase in the surplus of Indonesia's Trade Balance (NPI) to 2.89 billion US dollars in August 2024 from 500 million US dollars in July 2024. This condition is supported by the growth in export value of 7.13 percent year on year (yoy) and the value of imports rose 9.46 percent yoy which was much better than expectations in August 2024.

Still from within the country, Phintraco Sekuritas said, the market estimates that Bank Indonesia (BI) will still maintain the benchmark interest rate at the level of 6.25 percent, in accordance with BI's focus on stabilizing the rupiah exchange rate in the third quarter.

On the same day, Phintraco Sekuritas explained, credit growth data was released. For information on credit growth in July was at the level of 12.50 percent YoY continued the double digit growth trend throughout 2024.

From external, Phintraco Sekuritas said the market was looking forward to releasing UK inflation data which is expected to drop slightly to 2.10 percent YoY from 2.20 percent YoY.

"Furthermore, BoE is scheduled to announce a new monetary policy on Thursday 19 September," explained Phintraco Sekuritas.

The stocks recommended by Phintraco Sekuritas today are ARTO, BBYB, CPIN, JSMR, ANTM and AUTO.