JAKARTA - The movement of the Composite Stock Price Index (JCI) is projected to fluctuate in today's trading, Tuesday, July 11, after yesterday managed to strengthen 0.22 percent or 14.58 points to 6,741.04.
Phintraco Sekuritas in his research said that the JCI yesterday formed an inverted hazard/inverted dragonfly doji along with fluctuations. This pattern indicates the continued tendency of the JCI sideways on Tuesday.
JCI movement this Tuesday will be influenced by sentiment from abroad and domestically. From abroad, China's latest economic data strengthens indications of a slowdown in economic activity in June 2023.
Chinese inflation fell to 0 percent YoY in June 2023 from 0.2 percent YoY in May 2023 along with a decrease in producer price index (PPI) by 5.4 percent yoy in June 2023 compared to a 4.6 percent yoy decline in May 2023.
"Pasar tends to respond negatively to this data," explained the research of Phintraco Sekuritas.
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From within the country, there is data on the realization of Indonesia Consumer Confidence Index in 127.1 in June 2023, down from 128.3 in May 2023.
"Although it has decreased, the figure above 100 indicates confidence. The realization in June 2023 is high, relative to the average pre-pandemic condition," wrote research Phintraco Sekuritas.
JCI will move at the resistance level 6760 and support level 6700, with a pivot at 6730. For stocks, Phintraco Sekuritas recommends buying for BMRI, BBRI, BBCA, BBNI, ICBP, CTRA, BSDE and PWON.
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