Many Positive Sentiments, JCI Thursday 1 September Potentially Strengthening

Illustration. (Photo: Doc. Antara)

JAKARTA - The movement of the Composite Stock Price Index (JCI) in trading Thursday, September 1, is projected to strengthen. Phintraco Sekuritas in its analysis revealed that in conjunction with the JCI intraday rebound on Wednesday, August 31, RSI technically formed a golden cross in the oversold area. In addition, the rebound also pushed the JCI back on the 7.150 pivot. Thus, based on technical considerations, the JCI has the potential to strengthen to 7,180-7,200 today, Thursday. The JCI resistance level is at 7,200, the pivote is 7,150, and support is 7,080. From a fundamental point of view, Indonesia's economic outlook is believed to be still solid in the third quarter of 2022. The government through the Minister of Finance believes that Indonesia's economic growth in the third quarter of 2022 will be above 5 percent (yoy). In addition to the low third quarter of 2022 (3.51 percent yoy) baseline, this belief can be supported by the stability of domestic economic conditions until September 2022. One of them is the August inflation which is expected to slow down slightly (yoy) compared to the realization of July 2022. Masih dari dalam negeri, Kementerian PUPR RI telah menandatangani 19 paket pengerjaan infrastruktur IKN senilai Rp5,3 triliun pada 29 Agustus 2022. Proyek ini merupakan bagian dari fase I konstruksi IKN. Shares of building construction, especially ADHI, PTPP, WIKA, and WSKT showed strong signals of rebound/bullish reversal. The stocks that can be observed include TLKM, ASII, AMRT, TOWR, TBIG, and JPFA.