JCI On Friday Potentially Strengthens, These Six Stocks Could Be Options

JAKARTA - The movement of the Composite Stock Price Index (JCI) is predicted to strengthen in today's trading, Friday, August 18, after previously weakening 0.21 percent or 14.56 points to 6,900.54 on Wednesday, August 16.

Phintraco Sekuritas in his research assessed, technically, Stochastic RSI and MACD have the potential to form a death cross as an indication of further correction.

"Be aware of the support of 6,830, if the JCI is stuck under a pivot of 6,880 on Friday. Breaklow 6,830 on Friday indicates the formation of a minor inverted cup & handle / double top pattern," explained the research. Phintraco Sekuritas.

Furthermore, the minutes of the FOMC The Fed from the meeting in July 2023 are scheduled for release on Thursday, August 17th, to be considered. This is because the instructions regarding the terminal rate are one of the things that the minutes have been waiting for.

Tone, which is more dovish in the minutes, has the potential to support the JCI on Friday and vice versa. On the other hand, there are expectations of changing the monetary policy direction of the Bank of England (BoE) and European Central Bank (ECB).

"The latest data shows a 6.8 percent yoy decline in inflation in the UK in July 2023, down from 7.9 percent yoy in June," explained research on Phintraco Sekuritas.

JCI is expected to move at support levels of 6,830 and resistance at 6,950, with a pivot at 6,880. The stocks that can be considered today include ASII, PGAS, EXCL, ERAA, MARK, and MIDI.