Friday's JCI Is Projected to Weaken Again, This Line of Stocks Are Worth to be Monitored

JAKARTA - The Composite Stock Price Index (IHSG) is predicted to weaken again in today's trading, Friday July 28, after dropping 0.74 percent or 65.8 points yesterday to 6,896.66.

Phintraco Sekuritas in his research said that the JCI yesterday formed a death cross along with a pullback. JCI is expected to move in the range of 6,830 and 6,950.

Stocks sensitive to interest rate movements supported the JCI in early trading today, before turning around in session II. Overbought indications on the majority of big cap bank shares are expected to trigger further profit taking action this Friday.

"The market has indicated that it has priced-in towards the Fed's FOMC decision since the last few weeks. Thus, defensive stocks, especially consumer-related ones, can be paid attention again," explained research by Phintraco Sekuritas.

The stocks that have a chance of rebound are ICBP, INDF, MIDI, CPIN stocks and the potential for further strengthening in MAPI and MAPA. Meanwhile, there are opportunities to buy on weakness at TLKM, ASII, UNVR, KLBF, and SIDO.