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Stock Recommendations and JCI Movement Today, Thursday 1 December 2022, Monitor Inflation Data

Stock Recommendations and JCI Movement Today, Thursday 1 December 2022, Monitor Inflation Data

Andrianus.my.id , Indonesia - The Composite Stock Price Index ( IHSG ) has the potential to continue strengthening today, Thursday (1/12/2022) in line with the release of inflation data . 

Yugen Bermbuh Sekuritas CEO William Surya Wijaya said that the release of inflation data would give sentiment to the JCI movement pattern. 

Economic conditions that are quite stable can provide an estimate of inflation in normal and stable conditions. 

"So if there is an increase, it is natural that the economy is seen starting to move in line with the improving situation," he explained in a research publication.

However, as long as the JCI consolidation range has not been able to be shifted in a better direction, investors must still be aware of the potential for limited pressure.

William predicts that the JCI will move in the range of 7,011-7,157 today. The preferred stock recommendations are AALI, BBCA, TLKM, INDF, BBNI, TBIG, AKRA, SMRA. The trend of slowing inflation is expected to continue in November 2022. 

Based on the Bloomberg consensus compiled from 27 institutions, inflation in November reached 5.50 percent on an annual basis (yoy). 

If realized, this achievement will slow down from the achievements in October 5.71 percent and September 5.95 percent.

In a different research, Samuel Sekuritas Indonesia analyst William Mamudi said that the JCI (7.081) rebounded with a bullish engulfing. Anticipate another resistance test of 7.110 and a potential breakout. 

"For today, technical analysts like AMRT, BBRI, BBNI stocks with buy trading ratings, GGRM with sell trading ratings," 

he explained. JCI closed up 0.99 percent or 69.24 points to the level of 7,081.31 on Wednesday (30/11/2022). Throughout trading, the JCI moved in the range of 6,994.41 to 7,081.31.

Shares of PT Bank Central Asia Tbk. (BBCA) is the best-selling stock with a transaction value of IDR 3.6 trillion. BBCA closed up 3.62 percent to 9,300. 

The second best-selling stock yesterday was from a state-owned bank, namely PT Bank Rakyat Indonesia (Persero) Tbk. (BBRI) with a transaction value of IDR 1.9 trillion. BBRI strengthened 2.68 percent to a level of 4,980.

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