JAKARTA - The Composite Stock Price Index (JCI) is predicted to move sideways in today's trading, Thursday, June 18, after yesterday closed down 0.55 percent to 6,220.7.
Phintraco Sekuritas in its research said investors tend to be cautious ahead of many agendas in the future, namely the results of the Fed meeting on Thursday, June 18, RDG Bank Indonesia on Thursday, June 18, MSCI Global Market Accessibility Review on Friday, June 19, rebalancing the FTSE index on Friday, June 19, and MSCI Annual Market Classification Review on Wednesday, June 24.
The rupiah closed 0.21 percent weaker at Rp17,762 per US dollar in the spot market on Wednesday, June 17, awaiting the results of the FOMC meeting and the Bank Indonesia (BI) RDG.
According to the consensus, the Fed will maintain the benchmark interest rate at the level of 3.5-3.75 percent, while Bank Indonesia (BI) is expected to raise the BI Rate by 25 bps to 5.75 percent.
Phintraco Sekuritas explained technically, the MACD of the JCI continued to form a positive histogram widening. However, Stochastic RSI formed a Death Cross in the overbought area.
"So it is estimated that the JCI will move sideways in the range of 6,100-6,400," wrote Phintraco Sekuritas.
Meanwhile, MNC Sekuritas stated that the JCI is expected to test at the level of 6,476-6,577. Even so. still pay attention to the correction of the JCI to the level of the 6,113-6,176 area.
MNC Sekuritas recommends three stocks for today's trading, namely AMRT, TINS, and XMIG.
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