JCI Is Predicted To Strengthen On Thursday, These Are Recommended Stocks By Analysts

Illustration. (Photo: Doc. Antara)

JAKARTA - The movement of the Jakarta Composite Index (JCI) is expected to strengthen again in today's trading, Thursday, October 20.

Yesterday, the JCI closed up by a percent towards the level of 6,860.42. Phintraco Sekuritas analyst Valdy Kurniawan said the JCI rebound was stuck at the resistance at 6,860, which became the pivot level for Thursday's trading.

JCI also formed a fairly long upper-shadow on Tuesday and Wednesday. This indicates a possible sideway in the range of 6,800-6,900 on Thursday.

According to Valdy, the movement of the JCI is still overshadowed by the tendency of the rupiah to weaken. Pressure on the rupiah is expected to increase in line with expectations of aggressive monetary policy tightening by the Bank of England (BoE) and the European Central Bank (ECB) following the realization of inflation data in the UK and the Euro, which rose again in September 2022.

As a form of anticipation of the above, Bank Indonesia's (BI) RDG on 19-20 October 2022 is expected to raise the benchmark interest rate again by 50 basis points (bps).

Market players also anticipate investment realization data for the third quarter of 2022. And for trading this Thursday, Valdy recommends MAPI, AALI, LSIP, and KLBF shares.