The JCI on Monday is Estimated To Be Consolidated, These Six Shares Can Be Your Choices

Illustration. (Photo: Doc. Antara)

JAKARTA - The Composite Stock Price Index (IHSG) is expected to consolidate in the range of 6.830-6.930 in today's trading, Monday, January 30, after closing trading last Friday with a gain of 0.5 percent to 6.898.98.

Phintraco Sekuritas said the JCI has the opportunity to consolidate around the support range of 6,830 and resistance 6,930 in today's trading. However, technically, there is no solid indication yet.

"MACD tends to move sideways as the Stochastic RSI is still in the overbought area," Phintraco Sekuritas wrote in their research.

From the external side, market players will pay attention to the decision of the Fed's benchmark interest rate at the FOMC on February 1, 2023. An increase in the benchmark interest rate is expected to increase by only 25 basis points or lower than the increase in the previous few months.

"This is supported by the European Central Bank (ECB) and the Bank of Japan (BoJ) which do not plan to increase the aggressiveness of monetary policy tightening in the future," said Phintraco.

Meanwhile, from within the country, market players will pay close attention to the release of the 2022 financial performance reports of a number of issuers this week. The expected increase in financial performance will generate positive sentiment for the domestic capital market.

"The stocks that can be watched on Monday are ADRO, ITMG, INCO, BSDE, SMRA and CTRA," wrote Phintraco Sekuritas.