JAKARTA - The Composite Stock Price Index (IHSG) has the potential for a technical rebound in today's trading, Tuesday, November 5, after falling 0.34 percent or 25.75 points to 7,479.50 yesterday.
Valdy Kurniawan, Head of Research Phintraco Sekuritas explained that technically, the IHSG formed a long lower shadow along with the stochastic RSI indicator which is currently in the oversold area.
Meanwhile, the widening of the negative slope on the MACD indicator continues. He projected that if the IHSG is able to stay above the 7,450 level, then the IHSG has the potential for a technical rebound to the 7,500 level.
Valdy explained that from a regional perspective, the market is anticipating the release of the Caixin Services PMI data for October 2024 in China. The market projects that the performance of the service sector in China will increase to 50.5 from 50.3 in September 2024.
BACA JUGA:
"Meanwhile, from the domestic market, the market anticipates the release of economic growth data for the third quarter of 2024 which is expected to remain at the level 5% annually," he said.
The stocks selected by Phintraco Sekuritas for today's trading are BBNI, BBRI, ICBP, AMRT, INDF and ANTM.
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