JCI Tuesday Potentially Weakening, Five Shares Could Be An Option

Illustration. (Photo: Doc. Antara)

JAKARTA - The composite stock price index (JCI) is projected to continue to weaken and test the psychological support level of 6,700 in today's trading, Tuesday, February 25. Phintraco Sekuritas in his research said the JCI today will move in the resistance range of 6,800, pivot 6,750, and support 6,700.

Phintraco Sekuritas explained that the JCI closed down 0.78 percent to the level of 6,749.6 on Monday. Technically, the JCI failed to break out the dynamical resistance MA5 which is in the range of 6,800.

"So, today's JCI is still vulnerable to continuing the weakening of the 6,700 psychological support test," wrote Phintraco Sekuritas.

From domestic, Phintraco Sekuritas said, investors are still digesting the inauguration of the Danantara on Monday. Danantara can have a positive impact such as SOEs can focus more on expansion and operational efficiency, besides that consolidation can increase Indonesia's competitiveness globally.

"On the other hand, investors are still assessing the independence and transparency in this Danantara," added Phintraco Sekuritas.

In addition, Phintraco Sekuritas said the market's attention would be focused on Germany, which is scheduled to release data on the fourth quarter of 2024 GDP which is expected to show little improvement even though it is still in the contraction zone.

According to Phintraco Sekuritas, Germany's projected economic growth was at the level of minus 0.2 percent YoY improving from the previous level which was at minus 0.3 percent YoY in the third quarter of 2024.

"Contractions that occur in the fourth quarter of 2024 will mark seven consecutive quarters without growth, after previously experiencing a decline of 0.3 percent in the third quarter of 2024," explained Phintraco Sekuritas.

Phintraco Sekuritas recommends five shares in today's trading, namely SIDO, UNTR, INDF, LSIP and PGEO.