JAKARTA - The Composite Stock Price Index (JCI) is projected to test the psychological level of 7,000 in today's trading, Tuesday, June 3. Phintraco Sekuritas in its research estimates that the JCI will move in the resistance range of 7,150, pivot 7,100, and support 7,000 today.
Phintraco Sekuritas explained that the JCI on Monday closed lower at the level of 7,065, or fell 1.54 percent. Negative sentiment, among others, came from the majority of the Asian stock exchange index which experienced corrections.
"This is due to Trump's plan to increase the import rate of steel and aluminum from 25% to 50% starting June 4, 2025," wrote Phintraco Sekuritas.
Domestically, Phintraco Sekuritas said. April 2025 trade balance surplus fell to $ 0.15 billion from $ 4.33 billion in March 2025, due to a higher increase in imports from export growth.
Inflation in May 2025 fell to 1.6 percent YoY from 1.95 percent YoY in April 2025, in line with deflation of 0.37 percent MoM in May 2025 from inflation of 1.17 percent MoM in April 2025.
Technically, Phintraco Sekuritas explained, the JCI MACD indicator experienced a death cross and stochastic RSI was reversed. JCI is expected to test the psychological level of 7,000 today.
Today's JCI has the potential to close the gap down at 6,987 if it penetrates the level of 7,000, added Phintraco Sekuritas.
From the US, Phintraco Sekuritas said, data on JOLT's Job Openings will be released in April 2025 today, which is estimated to be 7.10 million from 7.19 million in March 2025.
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From the Euro Area, Phintraco Sekuritas said investors would look forward to the May 2025 inflation data which is estimated to reach 2 percent YoY, down from 2.2 percent YoY in April 2025.
Core inflation is also expected to slow down to 2.5 percent YoY in May 2025 from 2.7 percent YoY in April 2025. This decline in inflation is expected to open up opportunities for ECB to lower interest rates to 2.15 percent from 2.4 percent at the meeting on June 5, 2025.
The stocks recommended by Phintraco Sekuritas today are WIFI, RALS, MDKA, MEDC, and SMRA.
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