KONTAN.CO.ID - JAKARTA. The Composite Stock Price Index (IHSG) strengthened by 0.28% or 20.52 points to the level of 7,247.92 until the end of trading on Monday (22/1). 

Head of Customer Literation and Education at Kiwoom Securities Indonesia, Oktavianus Audi predicts that the IHSG today, Tuesday (23/1) will move limitedly and tend to weaken within the support level range of 7,160 and resistance of 7,300.

Audi said, the MACD indicator still shows a weakening trend and the RSI is still moving limitedly.

Read Also: IDX Opens Weaker in Tuesday (1/23), TPIA, MEDC, UNVR Top Gainers of LQ45

In addition, the increase in the 1Y US bond yield along with the still high hawkish signal from The Fed officials that dampens the expectation of a benchmark interest rate cut, will make investors tend to be cautious. 

“However, the sentiment from the release of the 2023 issuer's performance will support the rise of the IHSG, where we predict a positive growth performance, especially banking,” said Audi, to Kontan.co.id, Monday (22/1).

Read Also: Stock Recommendations for ACES, BSDE, and MEDC for Tuesday (1/23)

The recommended choice of stocks for Tuesday (23/1) are as follows: 

1. Bank Jago Tbk (ARTO)

Recommendation: Trading buy Support: Rp 3,440    Resistance: Rp 4,050

2. BFI Finance Indonesia Tbk (BFIN)

Recommendation: Trading buy Support: Rp 1,175    Resistance: Rp 1,380

3. Cisarua Mountain Dairy (CMRY) 

Recommendation: Trading buy Support: Rp 4,020    Resistance: Rp 4,560

4. PT Ace Hardware Indonesia (ACES) 

Recommendation: Buy on break Rp 820 Support: Rp 775    Resistance: Rp 895

Next: Stock Recommendations for ACES, BSDE, and MEDC for Tuesday (1/23)

Editor: Hasbi Maulana