Jakarta, CNBC Indonesia – The performance of the Indonesian financial market still needs to improve. The Composite Stock Price Index (IHSG) and the rupee exchange rate continued to weaken as investors continued to shun government bonds (SBNs).
In yesterday’s trading, the JCI failed to stay in the green zone, closing down 94.76 points or 1.36% at 6,892.57. This is the first time the JCI has closed below the 6,900 level since Oct 19, 2022.
Yesterday’s weakening also extended the JCI’s downtrend. Indonesian stocks have weakened over the past four trading days with a total weakening of 2.66%.
So how to trade today? Check out JCI forecasts along with selected stock recommendations from brokers for trading on Wednesday (7/12/2022).
Growing titles Yugen
The JCI movement pattern is still overshadowed by a pressure wave that doesn’t seem to end yet. Meanwhile, the JCI movement pattern will also be affected by the sentiment of rupee exchange rate fluctuations.
In addition, foreign investors are still experiencing capital outflows this week, however, given that Indonesia’s economic condition is currently still stable, the opportunity for a technical rebound is still open. The JCI has the potential for a limited correction today that will move from 6.836 to 7.123.
Preferred shares:
-ITMG
– BMI
-ICBP
-BSDE
-BBRI
– EXCL
– INC
Pilarmas Investing Securities
Based on the technical analysis, we see that the JCI has potential to weaken limited to the range of 6850 – 6982.
Preferred shares:
-ARO
– CTRA
-MEDC
