JCI Tends to be Sluggish, See Stock Recommendations from Analysts for Today

Armfalcon.com,JAKARTA — The movement of the Jakarta Composite Index (IHSG) tends to be corrected in early trading on Wednesday (24/5/2023). Ajaib Sekuritas Financial Expert, Ratih Mustikoningsih, projects that the JCI today will vary in the range of 6,709-6,787.

Ratih said the movement of the JCI would be influenced by internal and external sentiment. From within the country, today’s JCI rate will be driven by economic data that recorded positive performance.

“Indonesia’s balance of payments (NPI) recorded an increasing surplus in the first quarter of 2023 of US$6.5 billion, higher than the previous period which was recorded at US$4.7 billion in the fourth quarter of 2022,” said Ratih.

BOP performance was supported by a current account surplus of three billion US dollars, around 0.9 percent of GDP. This positive performance was accompanied by a surplus in the capital and financial account which recorded a surplus of US$3.4 billion, or around 1.0 percent of GDP.

From abroad, Japan reports preliminary calculations (Flash) data au Jibun Bank Manufacturing PMI which grew at the level of 50.8 in the May 2023 period. This is the highest level in eight months from the final calculation in April 2023, namely at the level of 49.5.

While the initial calculation (Flash) data au Jibun Bank Services Japan’s PMI also grew at the level of 56.3 in May 2023, higher than the previous month’s period at the level of 55.4. This represents a ninth straight month of growth for the service sector in Japan.

Here are some of Ajaib Sekuritas’ selected stocks to trade today:

KLBF

Purchases: 2,120

TP : 2,190

Stop loss: <2050

KLBF potential reverse from bearish phase short-term. Form a pattern inverted hammer at a steady volume. MACD indicator histogram bars positive and MACD liners on centerline.

KLBF continues to expand by budgeting capital expenditure (capex) worth IDR 1 trillion in 2023. As of March 2023, IDR 300 billion of capex has been realized which has been allocated to increase the production capacity of prescription drugs and medical devices.

ACES

Buys : 605

TP : 625

Stop loss: <570

ACES strong bullish above the MA-5, MA-20 and MA-100, has the potential to continue strengthening. Stable volume strengthening and MACD histogram bars positive.

ACES continues to expand by adding five new outlets during January-April 2023. ACES targets to add 10-15 outlets in 2023. The accelerated domestic CCI has the potential to increase Same-Store Sales Growth (SSG) and turnover asset ratio ACES.

ASSA

Buys: 1,175

TP : 1,210

Stop loss: <1.110

ASSA bullish above MA-5, MA-20 and MA-100. Indications to continue strengthening are also supported by Stochastic oscillator goldencross in a neutral area.

The transportation sector is the most superior of other sectors with an increase of 10.24 percent year to date (YtD). This performance is in line with the national GDP in the first quarter of 2023, according to the transportation and warehousing business sector, which rose 15.93 percent YoY. In the same period, ASSA’s revenue growth rose 11% YoY to Rp. 445.9 billion and on an annual basis bottom line managed to achieve a net profit of 159 percent YoY or IDR 385 billion.