Today’s JCI has the opportunity to reverse direction, transactions are predicted to remain quiet

JAKARTA – Composite Stock Price Index ( IHSG ) next week has the potential to rebound in line with the Chairman’s comments The Fed Jerome Powell said that the latest inflation data for the United States or US was in line with predictions.

Investment Head of Research, Cheryl Tanuwijaya, said that next week’s JCI will be influenced by positive US data such as the personal consumption expenditure (PCE) price index which was released last Friday.

“We see there is potential for a rebound even though transactions are expected to continue to be quiet, because in the last two days less than IDR 10 trillion in one day is below the average,” said Cheryl to IDX Channel, quoted Monday (1/4/2024).

Cheryl explained that the JCI correction on Thursday (28/3) was in the opposite direction to the Wall Street, European and even Asian exchanges which actually strengthened.

“So the negative sentiment from Indonesia, actually the correction that occurred is a natural thing because we saw that in the last few weeks the JCI has reached an all time high so it is impossible all day long, this year the index continues to strengthen,” said Cheryl.

“Moreover, we are still adapting to the implementation of the full call auction transaction mechanism which was implemented last Monday,” he added.

Thus, the condition of the index which is still high means market players will choose to take profits first.

The following are recommended stock choices that can be collected for next week.

TPIA 5400 – 6200 BUY
JPFA 1130 – 1200 BUY
ASII 5000 – 5400 BUY
TKIM 7200 – 7600 BUY

(acres)