JAKARTA - Phintraco Sekuritas predicts the Composite Stock Price Index (JCI) will move in the resistance range of 7,100, pivot 7,050, and support 6,980 today, Wednesday, June 4.
Phintraco Sekuritas explained that the JCI on Tuesday, June 3, closed down 0.28 percent to the level of 7,044, after fluctuating between positive and negative territory. Negative sentiment, among others, still stems from the increasing uncertainty of the tariff war and concerns about its impact on the domestic economy.
Technically, Phintraco Sekuritas said, the reduction rate of the stochastic RSI indicator began to slow down. However, MACD's histogram began to be in a negative area. Although the JCI had penetrated the psychological level of 7,000, but turned back to stay above the MA20 level at around the level of 7,022.
"Thus, today's JCI is expected to continue to fluctuate in the range of 6,980-7,100," wrote Phintraco Sekuritas.
From the US, Phintraco Sekuritas market will look forward to the comments of several Fed officials today. In addition, American Petroleum Institute (API) will release weekly data on US strategic oil reserves.
"The market will also look forward to PMI's ISM Service data in May 2025 which is expected to rise to 52 out of 51.6 in April 2025," explained Phintraco Sekuritas.
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From domestic sentiment, Phintraco Sekuritas said, the market is looking forward to launching economic stimulus packages from the government starting June 5, 2025 to encourage an increase in people's purchasing power.
The stimulus packages include wage subsidy assistance for workers with salaries below Rp. 3.5 million and honorary teachers, public transportation discounts, additional social assistance and discounts for Work Accident Insurance Contributions, explained Phintraco Sekuritas.
The stocks recommended by Phintraco Sekuritas today are WIFI, RAJA, ACES, SMGR and ISAT.
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