The JCI on Monday Overshadowed by Several Sentiments, These Are Recommended Stocks

Illustration. (Photo: Doc. Antara)

JAKARTA - The movement of the Composite Stock Price Index (IHSG) is projected to continue strengthening on Monday February 6 trading, after last Friday, February 3 it climbed 0.31 percent to a level of 6,911.73.

Phintraco Sekuritas in his research said that Monday's JCI would be overshadowed by the release of data on Indonesia's economic growth and the Fed's interest sentiment.

"JCI has the potential to test the resistance at 6.920 again. Along with the formation of a golden cross at the pivot level of 6.880 on the Stochastic RSI," explained research by Phintraco Sekuritas.

Furthermore, the movement of the JCI will still be influenced by the attitude of market players who are watching the release of the realization of Indonesia's economic growth throughout 2022.

Indonesia's economic growth is expected to slow down to 4.84 percent on an annual basis in the fourth quarter of 2022, from 5.72 percent on an annual basis in the third quarter of 2022.

"However, annual economic growth is estimated to be above 5 percent on an annual basis in 2022, when compared to 3.69 percent on an annual basis in 2021," explained research by Phintraco Sekuritas.

The stocks recommended by Phintraco Sekuritas include INDF, MYOR, BBCA, EMTK, BSDE, PWON, BBNI, and BMRI because they have the potential to continue strengthening. A potential rebound in ESSA and BTPS can also be considered.