JAKARTA - The Composite Stock Price Index (JCI) is projected to continue strengthening in today's trading, Ra22 July, after yesterday rose 1.74 percent to 6,340.
Phintraco Sekuritas in its research said that currently the market's attention will be focused on the Bank Indonesia Board of Governors (RDG BI) meeting scheduled for this Wednesday to find out the direction of BI's monetary policy.
Markets expect BI to raise the BI Rate by 25 bps to 6 percent at the RDG BI meeting.
Phintraco Sekuritas explained technically, the JCI managed to stay above the 6,300 level along with the formation of a positive MACD histogram that continues.
"So the JCI has the opportunity to continue strengthening towards the level of 6.375-6.400 on Wednesday's trading," wrote Phintraco Sekuritas.
Meanwhile, MNC Sekuritas estimates that the JCI still has the opportunity to continue strengthening to test 6,355-6,398. However, MNC Sekuritas there is a potential for correction in the short term to test 6,274-6,307.
MNC Sekuritas recommends four stocks for today's trading, namely BRMS, MAPA, MDKA, and TLKM.
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