JCI Tuesday Potentially Strengthens Again, Five Stocks Are Recommended

Illustration. (Photo: Doc. Antara)

JAKARTA - The Composite Stock Price Index (JCI) rose 1.65 percent or 118.54 points to 7,314.11 at the end of trading Monday, November 25.

Phintraco Sekuritas in his research said technically, the JCI broke out at the psychological level of 7,300 in line with the formation of the Golden Cross in the MACD indicator and the Stochastic RSI indicator in the pivot area.

"If the JCI is able to survive above the level of 7,300, the JCI is estimated to have the potential to test the MA200 in the range of 7,330 in trading this Tuesday," explained Pintraco Sekuritas research.

From the global market, the market is looking forward to the release of New Home Sales data in October 2024 in the United States (US) which is scheduled to be released this Tuesday and is expected to decline to 730 thousand from 738 thousand in September 2024. This estimate indicates a weakening of the property sector in the US.

On the other hand, the release of CB Consumer Confidence data in November 2024 is expected to increase to 111.6 from 108.7 in October 2024.

From the European Region, the market is looking forward to the release of CBI Distuitive Trades data in November 2024 in the UK which is scheduled to be released this Tuesday as a reference in measuring retail sector activity. The market estimates that the data has decreased to levels -14 from -6 in October 2024 which indicates that retail sector activity in the UK is experiencing weakness.

From the regional market, the release of economic data on Tuesday tends to be minimal. However, the domestic market is scheduled to release Property Price Index data in the third quarter of 2024 which is expected to increase to 1.8 percent YoY from 1.76 percent YoY in the second quarter of 2024.

The stock top picks from Phintraco Sekuritas for today's trading, namely SMDR, UNVR, PGAS, AMRT, and INDF.