JAKARTA - The Composite Stock Price Index (JCI) is projected to move consolidated in today's trading, Friday, July 4. Phintraco Sekuritas in its research estimates the JCI will move in the resistance range of 6,950, pivot 6,900, and support 6,800.
Phintraco Sekuritas explained that the JCI closed down 0.05 percent to the level of 6,878.05 on Thursday. The index moved in a narrow range with a lower volume and transaction value than the daily average.
"This indicates investors tend to wait and see, looking forward to the latest developments," wrote Phintraco Sekuritas.
In addition, Phintraco Sekuritas added, it is suspected that liquidity is absorbed by the massive IPO offering at the same time. Technically, the MACD and Stochastic RSI indicators have not shown a strong buying momentum.
"Today's JCI is predicted to still tend to consolidate in the range of 6,830-6,950," said Phintraco Sekuritas.
Phintraco Sekuritas explained, with nonfarm payroll data in June which has increased above the estimate, the chance of cutting the Fed's interest rate in July will be even smaller.
BACA JUGA:
Currently, continued Phintraco Sekuritas, investors will also pay close attention to developments in trade negotiations between the US and its trading partners, including Indonesia, ahead of the deadline for the implementation of the reciprocal tariff on July 9, 2025.
"In addition, the market will also look forward to the development of the US tax bill and its impact on the movement of global investment funds," explained Phintraco Sekuritas.
The stocks recommended by Phintraco Sekuritas today are PGEO, JPFA, ESSA, MBMA and KLBF.
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