JAKARTA - The Composite Stock Price Index (JCI) is predicted to weaken in today's trading, Tuesday, May 6, after closing higher by 0.24 percent yesterday or an increase of 16.22 points to the level of 6,831.95.
Phintraco Sekuritas in his research said that the JCI was trying to close the gap to the level of 6,870 in trading last Monday. With this achievement, the JCI rally has been going on for six consecutive days since April 25, 2025.
"Technically, the potential for a continuation of the bullish reverse trend in the JCI is still quite strong. However, it is still necessary to be aware of the potential for a reasonable pullback in the short term," explained Phintraco Sekuritas.
Although the JCI strengthened yesterday, the realization of economic growth in the first quarter of 2025 reached 4.87 percent YoY below YoY's expectations of 4.91 percent and fell from 5.02 percent YoY in the fourth quarter of 2024.
"Investors seem to have anticipated this condition along with the significant weakening of the JCI in early April 2025."
On the other hand, investors have high hopes for a trade deal, especially as there is news that a group of footwear manufacturers in the US has asked US President Donald Trump to free footwear products from reciprocal tariffs.
BACA JUGA:
This can benefit Indonesia, considering that one of Indonesia's main export commodities to the US is footwear products.
For today's trading, Phintraco Sekuritas predicts the JCI support level is at 6,750 and resistance at 6,950. The recommended stocks are ADMR, AMRT, AADI, MYOR, and INDY.
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