JAKARTA - The Composite Stock Price Index (JCI) was reviewed to strengthen in today's trading, Friday, February 21, after closing down 0.10 percent yesterday to 6,788.04.
Phintraco Sekuritas explained that technically, the JCI decline was stuck in MA5 in the range of 6,785 with the Stochastic RSI indicator in the overbought area.
For trading this Friday, the JCI is projected to move in the range of 6,7256,875 levels. Where the movement of this composite index will be influenced by external sentiment.
From the US, the market is anticipating the release of Existing Home Sales data in January 2025 as a reference for measuring consumer demand in the housing sector.
The market estimates that the Existing Home Sales in the US in January 2025 will reach 4.12 million units. This is lower than the realization in December 2024 of 4.24 million units.
From the European region, the market will anticipate the release of retail sales data from January 2025 in the UK, which is estimated to grow 0.3 percent MoM, improving from the previous month's 0.3 percent MoM decline.
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From the regional side, the market anticipates the release of the January 2025 Inflation Rate data in Japan which is scheduled to be released on February 21, 2025, which is expected to rise to the level of 3.7 percent YoY from 3.6 percent YoY.
At the same time, Japan will also release Manufacturing PMI Flash data in February 2025 which is expected to rise to level 49 from level 48.7 in January 2025.
The stocks chosen by Phintraco Sekuritas are today, namely ENRG, HRUM, TINS, JSMR and GJTL.
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