JCI Thursday Has The Opportunity To Continue Strengthening, Check Out Stock Recommendations

Illustration. (Photo: Doc. Antara)

JAKARTA - The Composite Stock Price Index (JCI) has the opportunity to continue strengthening in today's trading, Thursday, January 23, after yesterday's increase of 75.308 points or 1.05 percent to 7,257,128.

Phintraco Sekuritas in its research looked technically, the positive slope widening in the MACD indicator continued while the Stochastic RSI indicator was in the overbought area.

"If the JCI is able to survive above the level of 7,250 then we estimate the JCI has the potential to continue strengthening the MA200 test in the range of 7,300 on Thursday's trading," wrote Phintraco Sekuritas.

From the United States (US), the market anticipates the release of Initial Jobless Claims data last week which was scheduled to be released on Thursday and is expected to rise to 220,000 from 217.000 in the previous week, signaling that the employment sector in the United States (US) is weakening.

Meanwhile, from the European region, at the same time the market anticipates the release of Consumer Confidence Flash data in January 2025 at the Euro Area which is expected to improve to the level -14.2 from the -14.5 level in December 2024 even though it is still in the negative zone.

From the region, the market anticipates the release of Balance of Trade data in December 2024 in Japan which is scheduled for release on Thursday (and is estimated to experience a deficit of CNY -55 billion, better than the realization in November 2024 which recorded a deficit of CNY -117.6 billion.

Meanwhile, from domestic, the market anticipates the release of M2 Money Supply data in December 2024 (23/1) as a reference for knowing liquidity conditions in the market as well as the inflation rate that occurs.

The stocks recommended by Phintraco Sekuritas for today are ACES, EXCL, ERAA, MYOR, AND TOWR.