JCI Action Prediction At The End Of The Week, This Is Stock Recommendation

Illustration. (Photo: Doc. Antara)

JAKARTA - The Composite Stock Price Index (JCI) is overshadowed by the weakening of the global market in today's trading, Friday, March 7. Phintraco Sekuritas in its research estimates the JCI will move at resistance at 6,700, pivot 6,630, and support at 6,550.

Phintraco Sekuritas said the JCI was overshadowed by the weakening of the majority of the global index. Technically, the JCI failed to confirm the breakout at 6,630 which coincided with the MA20 indicator.

With this movement, the JCI also formed a long upper-shadow that showed the selling pressure that overshadowed the strengthening of the JCI.

"Thus, the JCI today is expected to move consolidatively in the range of 6,550-6,650 this weekend," wrote Phintraco Sekuritas.

Phintraco Sekuritas added that Bank Indonesia (BI) is scheduled to release foreign exchange reserves data as of the end of February 2025 on Friday.

The position of foreign exchange reserves is estimated to be relatively stable in line with the stability of the Rupiah exchange rate in the range of Rp. 16,300 per US dollar in February 2025 and the Government's efforts to refinancing debt due in 2025 which reached Rp. 800 trillion.

Phintraco Sekuritas said the government plans to maximize the issuance of Government Securities (SBN) in the second semester of 2025.

From the region, Phintraco Sekuritas added, the market expects directions on China's Government policies, including responses to tariff wars with the US in the National Party congress which began on Friday.

Phintraco Sekuritas recommends five shares for today's trading, namely BRMS, PNLF, ERAA, SCMA, and PWON.