JAKARTA - The Composite Stock Price Index (JCI) has the potential to correct again in today's trading, Thursday, July 9, after yesterday weakened 1.89 percent to the level of 5,873.3.
Phintraco Sekuritas in its research explained that the correction of the JCI was due to increased geopolitical tensions in the Middle East which triggered a rebound in crude oil prices of more than 6 percent, thus prompting profit taking after the JCI posted an increase for 5 consecutive days.
In addition, S&P DJI announced the results of an evaluation that placed Indonesia in a monitoring status so that it could potentially be downgraded from the emerging market group to the frontier market.
"With this development, the JCI is expected to still have the potential to continue the correction to test the support area in the range of 5,800-5,745 on Thursday, July 9," wrote Phintraco Securities.
On the other hand, MNC Securities predicts that the JCI still has the opportunity to continue strengthening to test 6,083-6,203. This securities said there was a correction area at the level of 5,752-5,840.
MNC Sekuritas recommends four stocks for today's trading, namely AKRA, ESSA, MEDC, and DEWA.
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