Global Sentiment To Move JCI Today, Check Out Stock Recommendations

Illustration. (Photo: Doc. Antara)

JAKARTA - The combined stock price index (JCI) is projected to continue corrections to the level of 7,470-7,500 in today's trading; Thursday, July 31. Phintraco Sekuritas in its research estimates the JCI will move in the resistance range 7,600, pivot 7,550, and support 7,470.

Phintraco Sekuritas explained that the JCI closed lower at the level of 7,549.89 (0.89 percent) on Wednesday's trading. This weakening was partly caused by profit-taking after the JCI experienced a rally of more than three weeks.

"Shares of the infrastructure sector recorded the largest correction, on the contrary, shares in the technology sector posted the biggest increase," wrote Phintraco Sekuritas.

Technically, Phintraco Sekuritas said, the Stochastic RSI indicator experienced a Death Cross in the overbought area with the potential for a downward reversal. The MACD indicator also shows a positive narrowing of its slope with a declining positive histogram.:

"The selling volume pressure has also increased. So it is estimated that the JCI today has the potential to continue the correction at the level of 7,470-7,500," added Phintraco Sekuritas.

Investors will pay close attention to global important data today, such as PMI manufacturing from China in July 2025, which is estimated to tend to be stable in the range of 49.7.

Investors are also looking forward to the Bank of Japan meeting, which is expected to keep interest rates at a level of 0.5 percent. Meanwhile, Japan's Consumer Confidence index in July 2025 is expected to improve slightly at the level of 35.1 out of 34.5 in June 2025.

Investors will also look forward to the Core PCE prices index, which is inflationary data observed by the Fed, where in June it is estimated to rise to 0.3 percent MoM from 0.2 percent MoM in May 2025.

"Meanwhile, President Trump has stated that he will impose a tariff of 25% on imported products from India starting August 1, 2025," said Phintraco Sekuritas.

The stocks recommended by Phintraco Sekuritas are EMTK, AUTO, PWON, ARTO and LSIP.