JCI On Wednesday Potentially Continues To Correct, Check Out Stock Recommendations

Illustration. (Photo: Doc. Antara)

JAKARTA - The Composite Stock Price Index (JCI) is projected to weaken in today's trading, Wednesday, August 27, after yesterday's decline of 21.15 points or 0.27 percent to the level of 7,905.75.

Phintraco Sekuritas in his research said that technically the MACD indicator experienced Death Cross accompanied by an increase in the sale volume and indicator Stochastic RSI in the pivot area.

"So it is estimated that in the short term, the JCI correction will still have the opportunity to continue to test the support level at 7,800-7,850," explained Phintraco Sekuritas.

The decline in the JCI on Tuesday was also influenced by negative sentiment stemming from the correction of the regional stock exchange index. The majority of the indices on the Asian stock exchange were closed lower due to the threat of the President of the United States (US) Donald Trump who would impose an import rate of 200 percent if China did not export rare earth minerals to the US.

In addition, Trump also threatened to impose tariffs on countries that do not abolish digital taxes and related regulations.

Investors are also watching a meeting between South Korean and US Presidents on a trade deal announced last month setting an import rate of 15 percent over South Korea's exports to the US.

The stocks chosen from Phintraco Sekuritas for today's trading are PT Adaro Andalan Indonesia Tbk (AADI), PT Rukun Raharja Tbk (RAJA), PT Pertamina Geothermal Energy Tbk (PGEO), PT TBS Energy Utama Tbk (TOBA) and PT Indofood Sukses Makmur Tbk (INDF).