JAKARTA - The movement of the Composite Stock Price Index (JCI) is expected to be corrected today, Friday, September 16, after closing up 0.38 percent yesterday to 7.305.60.
Phintraco Sekuritas analyst Valdy Kurniawan revealed that there was a signal of a JCI correction for Friday's trading, one of which was shown from the shooting star/inverted hater pattern that was formed on Thursday. In addition, the RSI Stochastic moved down from the overbought area.
He predicts, the JCI will be corrected to close the gap to around 7,250-7,275 in Friday's trading. Valdy observed that stocks from the mining and banking sector could be observed, including ADRO, PTBA, ITMG, INDY, and MEDC shares which had strengthened significantly in early trading on Thursday.
In addition, there are shares of BBKP, BBTN, BBNI, BRIS, and BDMN that have the potential to continue strengthening/rebound. The JCI driving sentiment, according to Valdy, was the first value of Indonesia's exports which grew 30.15 percent yoy in August 2022, far exceeding estimates at 19.19 percent yoy.
Thus, Indonesia's trade balance (NPI) surplus rose to US$5.76 billion in August 2022 from US$4.22 billion in July 2022.
The second consideration is that there is a belief that Indonesia's economic growth can still be above 5 percent yoy in 2022, even though it is overshadowed by the potential for an increase in inflation to above 6 percent yoy in 2022.
"Thus, funding needs are expected to remain high and the downward trend in restructuring by banks is expected to continue," he said.
The English, Chinese, Japanese, Arabic, and French versions are automatically generated by the AI. So there may still be inaccuracies in translating, please always see Indonesian as our main language. (system supported by DigitalSiber.id)
