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Jakarta, CNBC Indonesia – The composite stock price index (IHSG) on Wednesday (9/16/20) closed in the red zone with a depreciation of 0.83% at the level of 5,058.48.
Trade data indicated that foreign investors made net sales of Rs 983 billion in the normal market with a transaction value of Rs 6.5 trillion.
Bank Indonesia (BI) will announce its policy regarding interest rates today. The national central bank is expected to maintain its benchmark interest rate.
The pressure experienced by the rupee since the beginning of the third quarter of 2020 has made the monetary authority based in MH Thamrin consider it somewhat difficult to lower the 7-Day Reverse Reverse Rate BI, despite the Indonesian economy on the brink of recession .
The consensus compiled by CNBC Indonesia estimates that BI will keep its benchmark interest rate at 4%
The US central bank, the Fed, also announced policies early this morning, the result made the US stock market (Wall Street) volatile, it had strengthened before ending lower for the S&P 500 index (-0.46%) and Nasdaq (-1.25%), while the Dow Jones gained 0.13%.
The Fed said it would still keep interest rates close to 0% until 2023. Fed chief Jerome Powell is also optimistic about the US economic recovery, even though the unemployment rate has fallen faster than what the Fed predicted.
For today’s trading Thursday (9/17/2020), the following are sentiments and recommended actions for various values:
Samuel Sekuritas Indonesia – Market volatility remains high
IHSG gap and now forming an island pattern that can be the beginning of an investment. Still no signal break of downtrend line in the 5,200 range. Be aware that market volatility remains volatile.
Preferred shares:
UNTR (buy)
JSMR (sell)
BBRI (sell)
BBNI (sell)
Reliance Sekuritas Indonesia – JCI will still get stronger
JCI moved lower but remained stagnant moving average Technically, 5 days give a signal that the move is still tending to be strong, staying above the 5,000 psychological zone. Stochastic and RSI indicators are saturating with momentum bullish therefore, it is estimated that JCI technically has the potential to move mixed try to get back to the positive zone
Preferred shares:
AKRA
ASII
ANTM
BBTN
Artha Sekuritas – Investors concerned about the number of Covid cases
JCI is expected to weaken. Technically stochastic movement forming dead cross the omens continue trend weakening. The movement will be influenced by concerns about the large number of Covid-19 cases within the country that are breaking new records. Movement is expected to be limited before the Bank of Indonesia and Fed fix interest rates.
Preferred shares:
MEDC
EXCL
TOWR
MNC Sekuritas – Index vulnerable to correction
JCI is still vulnerable to continue its correction and at the same time close gap which is at the level of 5,016-5,051. Subsequently, as long as JCI does not aggressively correct below 5,016, JCI is likely to strengthen in the near term towards 5,130 first. Stay tuned if JCI aggressively corrects below 5,016 and even 4,753 to form wave [v] on the blue stage around 4,500-4,650.
Preferred shares:
BRPT
PGAS
AKRA
[Gambas:Video CNBC](bag of bag)
