JAKARTA - The Composite Stock Price Index (JCI) is predicted to be prone to correction in today's trading, Tuesday, January 14, after yesterday's subsidence of 1.02 percent or decreased 71.99 points to the level of 7,016.88.
Phintraco Sekuritas in its research looked technically, the JCI has penetrated the MA5 which is in the range of 7,066 levels. This weakening is also supported by the formation of a negative indicator and there is a death cross pattern on the MACD indicator.
"Therefore, we estimate the JCI will test the psychological support level at 7,000 on Tuesday's trading," explained Phintraco Sekuritas.
Meanwhile, the weakening of the JCI was caused by the collapse of big caps in the banking sector. The pressure was also exacerbated by the weakening of the rupiah exchange rate.
At the close of Monday, the rupiah in the spot market fell 0.75% Rp 16,283 per US dollar. The US dollar index also continued to strengthen after the release of US labor data.
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"But in the future, market attention will be focused on releasing US producer inflation data for December 2024 which is projected to rise 3.20 percent from 3 percent," explained Phintraco Sekuritas.
The stocks chosen by Phintraco Sekuritas today are PT Indofood Sukses Makmur Tbk (ICBP), PT Merdeka Copper Gold Tbk (MDKA), PT Bank Syariah Indonesia Tbk (BRIS), PT Harum Energy Tbk (HRUM), and PT Triputra Agro Persada Tbk (TPAG).
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