JAKARTA - The Composite Stock Price Index (JCI) is projected to move fluctuatingly tends to stagnate in today's trading, Wednesday, May 7, after yesterday ending in the green zone, aka strengthening 0.97 percent or equivalent to 66 points to the level of 6,898.20.
Phintraco Sekuritas in his research assessed, technically, the JCI is in an overbought area, which means it has risen quite high in a short time, and there is a possibility of correcting it in the near future.
For this Wednesday, the market is waiting for the results of the Fed meeting on May 7-8, 2025 to see the direction of the interest rate policy going forward. The market estimates that the Fed will continue to maintain the benchmark interest rate at 4.5 percent.
While from Europe, the market awaits retail sales data in March 2025 which is estimated to grow 1.6 percent compared to last year, down from 2.3 percent in February which indicates public consumption is starting to slow down, explained Phintraco Sekuritas.
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Domestically, there are not many economic data releases scheduled for this Wednesday, so the JCI movement will be more influenced by global sentiment and development.
JCI today has the potential to move at the level of 6,850 - 6,950. The stocks that can be observed include PT Vale Indonesia Tbk (INCO), PT Harum Energy Tbk (HRUM), PT Timah Tbk (TINS), PT Merdeka Copper Gold Tbk (MDKA), and PT BUMA Internasional Tbk (DOID).
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