JCI is predicted to fluctuate next week, pay close attention to these stocks

ILLUSTRATION. JCI is predicted to fluctuate next week, pay close attention to these stocks

Reporter: Ika Puspitasari | Editor: I knew Laoli

KONTAN.CO.ID – JAKARTA. Wall Street indexes recorded another gain in trading Friday (9/4). DJIA increased by 0.89% and S&P 500 also gained 0.77% in trading last Friday.

Phintraco Sekuritas analyst, Valdy Kurniawan, assessed that optimism for the acceleration of economic recovery in the United States was the main catalyst for strengthening the majority of the Wall Street index.

“The increase in the inflation rate, the decrease in the unemployment rate and the commitment of the Fed to maintain accommodative monetary policy underlie this optimism,” said Valdy in his research, Sunday (11/4).

Despite receiving positive direction from Wall Street, the Composite Stock Price Index (IHSG) is estimated to still fluctuate (sideways) in the range support-resistance 5,950-6,120 in the next week.

Also Read: JCI is predicted to weaken on Monday (12/4), pay close attention to the stocks selected by analysts

From economic data, market players are anticipating inflation data in the United States, which is estimated to rise to the level of 2.4% yoy in March 2021 on Tuesday (13/4). This increase has the potential to encourage technical rebound on US Bond Yields in line with rising expectations of an accelerated economic recovery in the US.

This has the potential to trigger the trend of selling off foreign investors in the Indonesian capital market this week. In the past week, foreign investors recorded net selling of Rp 1.84 trillion in all markets.

Still from economic data, market players are also looking forward to the Indonesian Trade Balance (NPI) data for March 2021 (15/4). The increase in export value followed by an increase in import value could be a positive catalyst for the JCI and dampen potential selling, especially by foreign investors.

Hence, defensive stocks in the infrastructure sector and consumer goods can again be noticed can be observed, among others PGAS, TOWR, ICBP, MYOR and JPFA in trading Monday (9/4).