JAKARTA - The movement of the Composite Stock Price Index (JCI) is projected to strengthen again in today's trading, Wednesday, January 4, after closing higher by 37.77 points or 0.55 percent to 6,888.75 yesterday.
Phintraco Sekuritas in his research saw, along with the JCI rebound yesterday, Stochastic RSI formed a golden cross and MACD still maintains a positive slope. Both indicated a potential minor bullish reversal in the JCI.
"JCI has the potential for resistance tests in the range of 6,930-6,950 on Wednesday 4 January," explained Phintraco Sekuritas.
The JCI support today is predicted to be at the level of 6,820. Positive sentiment for the JCI comes from the increase in Indonesia's manufacturing index to 50.9 in December 2022 from 50.3 in November 2022 and the realization of inflation by 5.51 percent yoy in December 2022.
This indicates that inflation is successfully detained below 6 percent on an annual basis despite the increase in fuel prices in September 2022.
From external, the Euro Area and Germany recorded an increase in the manufacturing index in December 2022 although it has not returned to above the expansive limit at 50. However, this is considered a signal of improving economic conditions in Europe.
"From the region, the realization of China's Caixin Manufacturing PMI in December 2022 (49) is higher than expected (48.8)," explained Phintraco Sekuritas.
The stocks chosen by Phintraco Sekuritas for this Wednesday are ANTM, HRUM, PTBA, MEDC, ICBP, INDF, BBNI, BMRI, AGRO and TBIG.
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)