JCI Thursday Projected To Try Rebound, Five Stocks Recommended

Illustration. (Photo: Doc. Antara)

JAKARTA - The Composite Stock Price Index (JCI) is projected to again try to rebound today, Thursday, November 21. Phintraco Sekuritas in his research estimates the JCI will move in the range of 7,180-7,200.

Phintraco Sekuritas explained, the JCI today can return to trying to rebound to 7,180-7,200.

"JCI is still waiting for confirmation of the rebound to 7,200 as a minor bullish reversal validation," wrote Phintraco Sekuritas.

Phintraco Sekuritas said Nasdaq turned 0.11 percent corrected on Wednesday, November 20. In addition to the target, a number of other retailers in the United States (US) also reported financial performance and was relatively disappointing in the third quarter of 2024. Not only that, but indices in Europe continue to weaken.

The surge in natural gas prices continued, up 7.47 percent. The above conditions sparked fears of a spike in inflation in Europe," explained Phintraco Sekuritas.

Phintraco Sekuritas added that the US is scheduled to release labor data which is expected to worsen slightly, but it is believed that there will not change the Fed's distance towards a less-aggressive cutting policy.

Meanwhile, Phintraco Sekuritas said, RDG BI decided to hold interest rates at 6 percent, considering efforts to maintain Rupiah's stability and the pace of economic growth at least 5 percent yoy for 2024.

Phintraco Sekuritas recommends five stocks of choice for today, namely MEDC, EMTK, TINS, ELSA, and ACES.