JCI Tuesday Tests Level 7,600, Check Stock Recommendations

Illustration. (Photo: Doc. Antara)

JAKARTA - The combined stock price index (JCI) is predicted to test the 7,600 level today, Tuesday 15 October. Phintraco Sekuritas in its research estimates the JCI will move in the resistance range 7,600, pivot 7,550, and support 7,500.

Phintraco Sekuritas explained that the JCI moved according to estimates by closing on the 7.550 pivot last Monday. Technically, MACD continues to show the narrowing of the negative slope.

"Thus, the JCI is expected to have resistance tests today at 7,600," wrote Phintraco Sekuritas.

From external, Phintraco Sekuritas added, the market is looking forward to releasing UK unemployment rate data for August which is estimated to be stable at the level of 4.1 percent. In addition, from the European region, it will release ZEW Economic Sentiment Index data for October which is projected to grow to the level of 16.90 from the previous level of 9.30 in September.

"These data indicate that the positive impact of cutting the ECB benchmark interest rate in mid-2024 is starting to have an impact on the real economy," said Phintraco Sekuritas.

Domestically, Phintraco Sekuritas said, the market anticipates data on foreign exchange reserves and the Indonesia Trade Balance (NPI) which will be released in the middle of this week. In this regard, the price of petroleum weakened by more than 2 percent on Monday, October 14, triggered by a negative revision of global oil demand by OPEC.

Phintraco Sekuritas recommends stocks that investors can choose today, namely AALI, PTBA, TKIM, BBTN and AMRT.