JAKARTA - The Composite Stock Price Index (JCI) is predicted to move in the range of 5,900-6,220 on Monday, June 15, after last weekend closed up 2.07 percent to 6,007.66.
Phintraco Sekuritas in its research said that external positive factors that have encouraged the strengthening of the JCI include expectations of a US-Iran peace agreement and a correction in crude oil prices below US$90 per barrel.
In addition, some positive sentiments from the domestic include statements from the government that will carry out budget efficiency for MBG and reduce the target for the development of the Merah Putih village cooperative by 50 percent.
Then, the rupiah closed up 0.72 percent at Rp17,860 per US dollar in the spot market. Meanwhile, the raw materials sector posted the largest increase of 4.85 percent.
This week, investors will look forward to the results of RDG Bank Indonesia, Thursday, June 18, which according to consensus will raise the BI Rate by 25 bps to 5.75 percent.
Technically, MACD formed a Golden Cross so that a positive histogram was formed, but the Stochastic RSI was in the overbought area and potentially a Death Cross. It is estimated that the JCI still has the potential to test the MA20 level.
"So it is estimated that the JCI has the potential to move in the range of support 5,900-6,000 and resistance 6,150-6,220 next week," wrote Phintraco Sekuritas.
Meanwhile, MNC Sekuritas revealed that the JCI still has the opportunity to strengthen to test the 6,106-6,140 area, but nevertheless, it remains alert to the correction of the JCI to the level of the 5,962-6,021 area.
MNC Sekuritas recommends four stocks for trading today, namely HMSP, INDY, NCKL, and UNVR.
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