JAKARTA - The Composite Stock Price Index (JCI) is projected to weaken in today's trading, Thursday, April 17, after yesterday ending in the red zone to 6,400,054.
In his research, Phintraco Sekuritas assessed that technically, the JCI movement today is still above the 20-day average price line, which could be an early sign that the market is starting to recover.
The RSI Stochastic Indicator currently shows that the JCI is already in a buying saturated position. This means that the index has risen quite high in a short time and has the potential to experience corrections or a temporary decline," explained Phintraco Sekuritas in the research.
For this Thursday, the global market will be watching Fed Chair Jerome Powell's speech tonight, after previous US central bank meeting documents raised concerns that inflation could last longer than expected.
"Although the benchmark interest rate is still maintained in the range of 4.25-4.5 percent, the market still estimates that interest rates will be lowered by 0.5% this year, according to estimates submitted last December," explained Phintraco Sekuritas.
Today's JCI is predicted to have no strong push towards up or down, so the index is likely to move in a limited range for a while.
BACA JUGA:
"With these conditions, market participants need to pay close attention to the potential for short-term consolidation in the range of 6,375-6,425 on Thursday's trading," said Phintraco Sekuritas.
The stocks that can be considered include Adiperkasa Partners (MAPI), Telecommunication Partners (MTEL), Kalbe Farma (KLBF), Jasa Marga (JSMR), and J Resources Asia Pacific (PSAB).
The English, Chinese, Japanese, Arabic, and French versions are automatically generated by the AI. So there may still be inaccuracies in translating, please always see Indonesian as our main language. (system supported by DigitalSiber.id)
