Influenced By Several Sentiments, The JCI On Thursday Has The Potential To Weaken

JAKARTA - The movement of the Composite Stock Price Index (JCI) has the potential to continue to weaken in today's trading, Thursday, June 15, after closing down 0.29 percent yesterday, down 19.29 points to 6,699.71.

In Phintraco Sekuritas in his research, he observed that technically the JCI had tested resistance in the range of 6,730 to 6,750 before closing in the 6700 range on Wednesday's trading.

"There is a potential for further corrections to the range of 6,680. If the correction continues, be aware of the potential for a minor bullish reversal, considering that the JCI is in an overbought area," explained Pintraco Sekuritas research.

However, the domestic stock market will gain positive sentiment from market expectations against the Fed's decision to maintain the benchmark interest rate at the level of 5.25 percent.

This is a catalyst for stocks that are sensitive to interest rates, especially banking. The banking shares with the jumbo market capitalization are in the consolidation phase.

"The majority of banking stocks with large capacities are in the consolidation phase with Stochastic RSI indicating oversold conditions. This opens up opportunities for rally," explained research by Phintraco Sekuritas.

Yugen-Browing Sekuritas CEO William Surya said the JCI movement when experiencing limited pressure. Moreover, the sentiment of encouraging the JCI from within the country is still very minimal.

However, William assessed that this moment of pressure could be an opportunity for investors for the short to long term. The reason is, Indonesia's Real Sales Index (IPR) data in May still grew 1.5 percent on an annual basis to 234.2.