JCI Tuesday Is Predicted To Continue Strengthening In The Level Range Of 7,450-7,470

Illustration. (Photo: Doc. Antara)

JAKARTA - The Composite Stock Price Index (JCI) managed to strengthen for 11 consecutive days. In trading on Monday, July 21 yesterday, the JCI shot 1.18 percent or 86.27 points to the level of 7,398.19.

Phintraco Sekuritas in his research assessed that the strengthening of the JCI was driven by individual positive sentiment of issuers. Technically, the Stochastic RSI indicator, he said, is still in a buying and selling area.

"Nevertheless, the MACD indicator still shows continued strengthening momentum, which is supported by increased purchasing volume," wrote Phintraco Sekuritas.

According to Phintraco Sekuritas, the JCI will strengthen again in the range of support levels of 7,450 and resistance of 7,470. This increase will be influenced by the People Bank of China policy which maintains the interest rate of tenors of 1 year and 5 years, respectively, at 3.0 percent and 3.5 percent, according to market estimates.

"This decision is based on the growing consideration of indications of a slowdown in economic growth due to US import rates, declining domestic demand, and sluggish property sectors," explained Phintraco Sekuritas.

Then from the domestic side, the JCI is predicted to be affected by the release of Bank Indonesia Circulating Money data in June 2025.

The stocks recommended by Phintraco Sekuritas today are PT Alam Sutera Realty Tbk (ASRI), PT Aneka Tambang Tbk (ANTM), PT Vale Indonesia Tbk (INCO), PT Timah Tbk (TINS), and PT Rukun Raharja Tbk (RAJA).