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