JAKARTA - The movement of the Composite Stock Price Index (JCI) is predicted to fluctuate in the range of 6,820-6,870 in today's trading, Thursday, March 2.
Phintraco Sekuritas in his research explained that the JCI moved sideways with a tendency to decrease transaction volume in the past week. Thus, JCI consolidation is still continuing in the range of 6,820-6,870 today.
"The movement of the MACD and Stochastic indicators of RSI supports this view," wrote Phintraco Sekuritas.
The positive sentiment stems from the increase in the Chinese manufacturing index to 52.6 in February 2023 from 50.1 in January 2023. This has the potential to encourage continued rebounds in commodity prices.
"On the one hand, this has the potential to encourage further strengthening or continued rebounds in export-oriented stocks, such as HRUM, ELSA, INCO, MDKA and ANTM today," explained Phintraco Sekuritas.
On the other hand, Phintraco Sekuritas said, rising commodity prices, including oil, also have the potential to hold Indonesia's inflation, especially after the increase in non-subsidized fuel prices.
Thus, consumer-related stocks may be depressed for some time to come.
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