JCI Opens Optimistically, Check Out 5 Auto Cuan Stock Recommendations from Analysts

Armfalcon.com, JAKARTA — The Composite Stock Price Index (IHSG) turned towards the green zone after two consecutive days of correction. JCI opened up to the level of 6,785.88 and continued to strengthen up to 0.70 percent.

Phillip Sekuritas Indonesia projects that the JCI will tend to strengthen or bullish today, Friday (14/4/2023). The strengthening of the JCI was in line with Wall Street’s main exchange which compactly strengthened by more than one percent.

“Wall Street strengthened driven by economic data showing sluggish inflation and a weakening labor market. This has fueled optimism that The Fed is approaching the end of its aggressive interest rate hike policy,” said Phillip Sekuritas Indonesia.

The US Labor Department said its producer price index for final demand fell 0.5 percent in March. The report also showed the annual rate of growth in producer prices slowed to 2.7 percent.

A separate Labor Department report showed first-time claims for jobless benefits rose more than expected in the week ending April 8. The report said initial jobless claims rose to 239K, an increase of 11K from the previous week’s unrevised level of 228K.

“The data release signals that the Fed’s rate hike, which started more than a year ago, is functioning as it should,” said Phillip Sekuritas Indonesia.

The following are some of the stocks recommended by Phillip Sekuritas Indonesia for trading today.

SSMS

Short Term Trend : Bullish

Medium Term Trend : Bullish

Trading Buys : 1665

Target Price 1: 1815

Target Price 2: 1905

Stop Loss : 1515

ITMG

Short Term Trend : Bearish

Medium Term Trend : Bearish

Trade Buy : 34600-34625

Target Price 1 : 35850

Target Price 2 : 36600

Stop Loss : 33450

PTBA

Short Term Trend : Bullish

Medium Term Trend : Bullish

Trade Buy : 4000

Target Price 1: 4310

Target Price 2 : 4460

Stop Loss : 3770

GODDESS

Short Term Trend : Bullish

Medium Term Trend : Bullish

Trade Buys : 320

Target Price 1 : 346

Target Price 2: 370

Stop Loss : 296