JAKARTA - The Composite Stock Price Index (JCI) is projected to continue strengthening to the level of 7,300 in today's trading, Wednesday, June 11. Phintraco Sekuritas in his research is currently moving in the resistance range of 7,300, pivot 7,250, and support 7,170.
Phintraco Sekuritas explained that the JCI closed higher at the level of 7,230.75 (1.65 percent) yesterday. Investors responded positively to further negotiations between AS-Chingkok and were waiting for further negotiations between Indonesia and the US.
"In addition, Indonesia's stable foreign exchange reserves in May at US$152.5 billion are also a positive factor," wrote Phintraco Sekuritas.
Technically, Phintraco Sekuritas said, the stochastic indicator RSI oversold and formed a golden cross. The MACD indicator shows a negative slope narrowing. JCI penetrated and was able to stay above the MA200 level of around 7,133. The volume hisstogram also showed an increase in the volume of purchases.
"So technically, the JCI today has the opportunity to continue strengthening and test the resistance level at 7,300," said Phintraco Sekuritas.
From the US, Phintraco Sekuritas said, the market will look forward to inflation data in May 2025 which is estimated at 0.2 percent MoM, stable as in the previous month and 2.5 percent YoY from 2.3 percent YoY in April 2025. For core inflation in May 2025, it is estimated that 0.3 percent MoM from 0.2 percent MoM in April 2025 and estimated at 2.9 percent YoY in May 2025 from 2.8 percent YoY in April 2025.
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This, continued Phintraco Sekuritas, indicates that the inflation rate in the US has not experienced a significant increase due to the delay in the imposition of the reciprocal rate.
"Meanwhile, the increase in steel and aluminum import rates is only 50% valid starting June 4, 2025," said Phintraco Sekuritas.
The stocks recommended by Phintraco Sekuritas consist of six shares, namely JPFA, PTRO, BREN, BBRI, BBCA and BTPS.
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