JAKARTA - The movement of the Jakarta Composite Index (IHSG) is projected to continue its rebound in today's trading, Wednesday April 12, after yesterday closing up 0.59 percent to 6.811.31.
Phintraco Sekuritas in their research predicts that today's JCI will move at resistance 6.835, pivot 6.800, support 6.750.
"This view is based on a narrowing negative slope on MACD and Stochastic RSI," wrote Phintraco Sekuritas.
Phintraco Sekuritas added, the positive catalyst came from the increase in the Consumer Confidence Index (IKK) in Indonesia to 123.3 in March 2023 from 122.4 in February 2023. The IKK above 100 indicates a condition of confidence.
"Thus, the CCI in Indonesia has remained above the 120 level since January 2023," added Phintraco Sekuritas.
Externally, Phintraco Sekuritas explained, market players are anticipating US inflation data which is expected to fall to 5.2 percent yoy in March 2023 from 6 percent yoy in February 2023. However, core inflation is expected to rise 10 bps mom to 5.6 percent yoy.
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This condition underlies expectations of an increase in The Fed Rate by 25 bps at the FOMC in May 2023. Related to this, the trend of strengthening the Rupiah exchange rate is expected to continue for some time to come.
Phintraco Sekuritas recommends stocks that can be "monitored" today, namely ASII, BBCA, BMRI, GOTO, INTP, SMGR and ACES.
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