JAKARTA - The Composite Stock Price Index (JCI) again recorded a significant strengthening in trading on Wednesday, June 10, where it rose 2.71 percent or increased 155.72 points to 5,902.37.
The JCI continued its rebound trend in the last few sessions. Phintraco Sekuritas in its research said that the strengthening of the domestic stock market was driven by a combination of positive sentiments from the weakening of world crude oil prices, the strengthening of the rupiah exchange rate, to the government's response to the dynamics of the Indonesian capital market.
The rise in the JCI was supported by a number of fundamental factors that gave more confidence to market participants. In addition, domestic investors appreciated the start of the government's response to the turmoil in the Indonesian capital market.
From a technical perspective, Phintraco Securities said the JCI still showed positive signals. The index was able to stay above the five-day moving average (MA5) and closed in the MA10 area, while the stochastic RSI indicator continued to strengthen in the pivot area.
"The narrowing of the MACD histogram continues and has the potential to form a Golden Cross so that the JCI has the opportunity to test the psychological level at the level of 6,000," explained Phintraco Sekuritas.
Meanwhile, MNC Sekuritas actually predicts that the index is still vulnerable to correction after recording a sharp strengthening in two consecutive days. Projected, the support area of the JCI is at the level of 5,849, while the resistance is at the level of 5,964.
"For sentiment, it is estimated that there will be profit taking after two consecutive days of significant strength. Investors are also still looking at US CPI and PPI data," explained MNC Sekuritas.
In the midst of this potential volatility, MNC Securities recommends investors to pay attention to AMMN shares at a price range of IDR 3,780 to IDR 4,100, MINA in the range of IDR 328 to IDR 362, and WIFI in the range of IDR 1,735 to IDR 1,880.
The English, Chinese, Japanese, Arabic, and French versions are automatically generated by the AI. So there may still be inaccuracies in translating, please always see Indonesian as our main language. (system supported by DigitalSiber.id)
