The JCI on Monday is Predicted to Weaken, These Six Stocks Can be Monitored

Illustration. (Photo: Doc. Antara)

JAKARTA - The movement of the Jakarta Composite Index (IHSG) is projected to weaken in today's trading, Monday 26 June. Phintraco Sekuritas in his research said, today's JCI is expected to be traded at resistance 6.720, pivot 6.660, support 6.600.

Furthermore, today's JCI is predicted to consolidate with a tendency to weaken in the range of 6.620-6.660. Technically, MFI and stochastic RSI tend to move down to the oversold area.

"Accompanied by a widening of the negative slope at MACD," wrote Phintraco Sekuritas' research.

Phintraco Sekuritas explained that domestic market players are expected to still focus on decisions and instructions from major central banks in the west regarding their monetary policy. All of these central banks indicated that they would continue their tight monetary policy for the next few months.

Phintraco Sekuritas added, a shorter trading day next week, following the May 28-30 2023 holiday. This has also influenced the cautious attitude of market participants. Next week, the US will release CB Consumer Confidence data for June 2023 (27/6), and GDP Growth Rate QoQ Final for the first quarter of 2023 on Thursday 29 June.

Meanwhile, Phintraco Sekuritas said China will release the NBS Manufacturing PMI for June 2023 on Friday 30 June, which was previously at 48.8 in May 2023.

"If China's manufacturing index in June 2023 is still below 50, it indicates a slow recovery in manufacturing activity in June 2023," explained Phintraco Sekuritas.

Phintraco Sekuritas recommends market players to pay close attention to a number of stocks with further rebound potential, namely SMGR, INKP, ASSA, INDF, UNVR, and SIDO.