Five Stocks Recommended In The Midst Of Fluctuating JCI Movement

Illustration. (Photo: Doc. Antara)

JAKARTA - The Composite Stock Price Index (JCI) weakened 0.18 percent or 13.31 points to 7,308.67 in yesterday's trading, Wednesday, November 13. So what about the JCI today, Thursday 14 November?

Phintraco Sekuritas, in his research explained technically, the JCI experienced a normal pullback after testing the MA200, accompanied by the movement of MACD indicators moving sideways.

"Therefore, pay attention to the psychological level of 7,300 in Thursday's trading," explained Phintraco Sekuritas.

From a global perspective, after the release of US consumer inflation data on Wednesday, the market is currently awaiting inflation data from US manufacturers in October. It is estimated that the inflation rate will increase to the level of 2.20 percent YoY from the previous level at 1.80 percent YoY in September.

"This increase indicates a higher cost pressure at the production stage, which has the potential to affect the increase in the price of goods," said Phintraco Sekuritas.

In addition, on the same day, Jerome Powell is also scheduled to deliver a speech. The expectation of the speech is Powell will provide instructions on the direction of monetary policy, particularly regarding the cut in interest rates that may continue until the end of this year, after seeing the development of inflation data both in terms of consumers and producers.

The focus of the market will also be on the release of the second third quarter of 2024 GDP data in the European region, which is estimated by GDP to increase to 0.90 percent YoY higher than the previous quarter of 0.60 percent YoY.

On the other hand, industrial production data shows an opposite trend. Industrial production data in September is expected to decline to -1.1 percent YoY, after recording a positive level of 0.10 percent YoY in August.

"This decline indicates pressure in the industrial sector that has the potential to affect the economic recovery in Europe," he explained.

The selected stocks from Phintraco Sekuritas for trading this Thursday include PT Bank Negara Indonesia (Persero) Tbk (BBNI), PT Bank Rakyat Indonesia (Persero) Tbk (BBRI), PT Astra International Tbk (ASII), PT Erajaya Swasembada Tbk (ERAA) and PT Adaro Energy Indonesia Tbk (ADRO).