Check out JCI projections and stock recommendations for Monday (6/9) trading

Reporter: Akhmad Suryahadi | Editor: The novice Laoli

KONTAN.CO.ID – JAKARTA. Composite Stock Price Index (IHSG) is considered still able to continue its strengthening in trading Monday (6/9). Phintraco Sekuritas analyst Valdy Kurniawan projects that the JCI will move within the range support 6,100 dan resistance 6.150 with a tendency to strengthen.

The positive trend came from the latest labor sector data in the United States (US) which became a positive catalyst for Wall Street in the past week. The reason is, the US Central Bank, The Fed, has emphasized that it will not be in a hurry to raise its benchmark interest rate.

In line with the Fed, Bank Indonesia (BI) also estimates that the 7-day Reverse Repo Rate will only increase at the end of 2022. In response to this, the Rupiah exchange rate has strengthened by 1% in the past week.

“This can provide a positive direction for the JCI, especially at the beginning of the week (6/9),” said Valdy.

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In addition to monetary policy, market participants will pay close attention to China’s export-import data in August and Indonesia’s foreign exchange reserves as of the end of August 2021.

Meanwhile, MNC Sekuritas analyst Heerditya Wicaksana estimates that the JCI has the opportunity to continue its strengthening with a level of support 6.050 dan resistance 6,138. Market participants are considered to be still waiting for the tapering policy decision by the Fed.

“The rumors at the end of this year are for tapering and investors also tend to wait and see about this,” he said.

For tomorrow’s trading, Herditya recommends the shares of PT Bank Pembangunan Daerah Banten Tbk (BEKS), PT PT Smartfren Telecom Tbk (BRAKE), PT Waskita Beton Precast Tbk (WSBP).

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