JCI Is Projected To Still Move Fluctuatingly, Check Out Stock Recommendations

Illustration. (Photo: Doc. Antara)

JAKARTA - The Composite Stock Price Index (JCI) ended in the green zone, gaining 0.12 percent at the level of 6,445.96 at the end of trading, Monday 21 April. So what about today's movement, Tuesday, April 22nd?

Investment Analyst Advisor Provina Visindo, Kandina Naila said, the sentiment that influenced the JCI movement today came from the release of Indonesia's trade balance data which still recorded a surplus.

However, the market is watching a slowdown in export activity. investor concerns are also increasing along with the implementation of the import rate policy, which is feared to be able to put pressure on the performance of the trade balance going forward.

Investors are also still monitoring the negotiation process of countries related to the import rate policy. People's Bank of China (PBoC) also did not change interest rates, the amount remained at 3.6 percent," he said in the research.

For today, he believes that investors still tend to wait and see while observing the development of domestic policies, including the fiscal direction and trade regulations, to the application of import tariff policies that can affect the prospects of a number of sectors.

"In addition, the market is looking forward to the results of the Bank Indonesia Board of Governors' Meeting (RDG) on Wednesday, which will be an important reference regarding the direction of BI's interest rate and response to inflation dynamics and exchange rate stability," he added.

Indy predicts that the JCI movement in today's trading will still tend to be limited and continue its consolidation pattern or sideways in the support and resistance range at 6,404 to 6,510 levels.

The stocks that can be considered are PT Merdeka Copper Gold Tbk (MDKA) with a target price of IDR 1,830 and PT Bumi Resources Minerals Tbk (BRMS).