JAKARTA - The Composite Stock Price Index (JCI) is predicted to test the level of 6,250-6,300 in today's trading, Tuesday, July 21, after yesterday closed up 0.91 percent to 6,231.7.
Phintraco Sekuritas in its research said that the strengthening of the JCI occurred even though crude oil prices strengthened to touch the level of 90 US dollars per barrel for Brent, due to increased geopolitical tensions in the Middle East.
Optimism about improving domestic market sentiment continues. Industrial sector shares posted the largest increase (3.4 percent), while technology sector shares experienced the largest correction (0.56 percent).
Phintraco Sekuritas explained, technically, there was an expansion of the positive histogram of the JCI MACD, but the Stochastic RSI was in the overbought area.
"JCI closed above the MA50 level supported by an increase in buying volume. So it is estimated that JCI has the potential to test the resistance level at 6,250-6,300," wrote Phintraco Securities.
Meanwhile, MNC Sekuritas estimates that the strengthening of the JCI will be relatively limited to test the 6,264 area and prone to correction to the range of 5,747-5,935. If the JCI is able to break 6,377, the JCI will test 6,450-6,545.
MNC Sekuritas recommends five stocks for trading today, namely AMMN, BIPI, BULL, NCKL, and XNVE.
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