JAKARTA - The Composite Stock Price Index (JCI) is predicted to strengthen in today's trading, Wednesday, August 13, after yesterday's 2.44 percent jump to the level of 7,791.70.
Phintraco Sekuritas in his research said that the JCI strengthened yesterday along with market expectations for the decline in the US central bank interest rate, The Fed. Market optimism will improve the domestic economy and the rise of mergers and company acquisitions, as well as make the JCI soar.
Not to forget, the market is also still affected by the euphoria of the entry of a number of Indonesian issuers to Morgan Stanley Capital International (MSCI).
Technically, according to Phintraco Sekuritas, the MACD indicator formed a golden cross and the stochastic RSI indicator indicated a bullish reversal. The JCI also managed to get out of the consolidation area so it is estimated that it is likely to test the highest level at 7,910 in trading this Wednesday.
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"JCI will move according to market waiting for the release of US inflation data that opens the light of the US central bank's monetary policy direction, The Fed. If inflation data is higher than estimated, it is expected to be a negative catalyst because it has the potential to lower expectations of the Fed's monetary policy easing in September," explained Phintraco Sekuritas.
The stocks recommended by Phintraco Sekuritas for investors are PT Bank Negara Indonesia Tbk (BBNI), PT Bank Rakyat Indonesia Tbk (BBRI), PT Bank Syariah Indonesia Tbk (BRIS), PT Rukun Raharja Tbk (RAJA), and PT Raharja Energi Cepu Tbk (RATU).
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