The JCI On Friday Has A Chance To Strengthen, These Stocks Are Worth Paying Attention To Investors

Illustration. (Photo: Doc. Antara)

JAKARTA - The movement of the Composite Stock Price Index (IHSG) is projected to strengthen in today's trading, Friday, June 9, after yesterday it was up again by 0.70 percent or 46.575 points to a level of 6.666.330.

Phintraco Sekuritas in his research said that the strengthening of the JCI will continue until this Friday, where technically, the JCI is indicated to form a bottom around 6.600 and a morning star doji. The Stochastic RSI is starting to turn up from the oversold area so that the JCI has the potential to continue the rebound to the resistance at the 6.700 - 6.730 levels.

The strengthening of the JCI this Friday, according to Phintraco, was influenced by positive sentiments from within and outside the country. Overseas sentiment stems from the decision of 6 Chinese state-owned banks to cut deposit rates on Thursday.

"This has the potential to encourage the Chinese central bank to also cut its benchmark interest rate," explained Phintraco's research.

This expansionary policy builds expectations of recovery in China's economic activity. Meanwhile from within the country, the World Bank revised its projection for Indonesia's economic growth in 2023 from 4.8 percent YoY to 4.9 percent YoY.

If the positive momentum, especially on the household consumption side, can be maintained, Indonesia still has a chance to record economic growth above 5 percent YoY in 2023.

JCI on Friday is predicted to move at support at the 6.600 level and resistance at the 6.730 level. The selected stocks for Phintraco Sekuritas for Friday trading include BMRI, BBCA, BBRI, GOTO, HRUM, and MNCN.