JAKARTA - The consolidated Composite Stock Price Index (JCI) is waiting for the results of the Board of Governors' Meeting (RDG) of Bank Indonesia (BI) today, Wednesday, September 17. In his research, Phintraco Sekuritas estimates that the index will move in the range of resistance 8,020, pivot 7,950, and support 7,850.
Phintraco Sekuritas explained that the JCI closed higher at the level of 7,957.70 (0.26 percent) in trading last Tuesday, after moving in negative territory, due to profit taking after experiencing a rally for the last five days.
The primary consumption goods sector shares recorded the largest strengthening, while the financial sector shares recorded the largest correction, "wrote Phintraco Sekuritas.
Phintraco Sekuritas added that the government's 8 + 4 + 5 economic stimulus package had not succeeded in encouraging higher JCI strengthening in yesterday's trading.
Globally, Phintraco Sekuritas said, today investors will pay close attention to UK inflation data in August 2025 which is estimated to be stable in the range of 3.8 percent YoY, which is the highest level since January 2024.
"For core inflation in August, it is estimated to fall to 3.6 percent YoY from 3.8 percent YoY in July which is the highest level since April 2025," said Phintraco Sekuritas.
Domestically, Phintraco Sekuritas said, today investors will look forward to BI's monetary decision. According to the consensus, the BI Rate will remain at the 5 percent level, after last month it was beyond BI's expectations of lowering the BI Rate by 25 bps to 5 percent from 5.25 percent.
"In addition, investors will look forward to releasing credit growth data in August 2025 which is expected to improve to 7.25 percent from 7.03 percent the previous month," explained Phintraco Sekuritas.
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Technically, Phintraco Sekuritas added, MACD's negative histogram continued to shrink and RSI's Stochastic moved in the pivot area. JCI still persists above the MA20 level and is closed above the resistance level of 7,950.
"Thus, the JCI today has the opportunity to move in the range of 7,850-8,020," added Phintraco Sekuritas.
The stocks recommended by Phintraco Sekuritas today are ANTM, MEDC, AKRA, UNVR and TOBA.
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