KONTAN.CO.ID - JAKARTA. The IDX Composite (IHSG) strengthened by 0.28% to 7,247.92 at the start of the week, Monday (22/1). Financial Expert Ajaib Sekuritas, Ratih Mustikoningsih predicts that the IHSG on Tuesday (23/1) will move mixed and strengthen in the range of 7,150 - 7,300.

Although the IHSG appreciated, foreign investors recorded a net sale of Rp 308.95 billion. In line with this action, the Jisdor rupiah exchange rate depreciated by 1% since the beginning of 2024 to Rp 15,627 per US dollar (22/1). Ratih highlighted a number of pieces of information worth considering for today's trading.

Domestically, Bank Indonesia (BI) reported that the broad money supply (M2) in December 2023 grew by 3.5% yoy to Rp 8,824.7 trillion, higher than the growth in the previous month of 3.3% yoy.

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Annual credit disbursement during the same period grew by 10.3%, up from growth in November 2023 of 9.7%. The acceleration of credit disbursement occurred in all types of usage, such as Working Capital Loans (KMK), Investment Loans (KI), and Consumer Loans (KK).

From abroad, the main indices of the Wall Street exchange, S&P 500, Dow Jones and Nasdaq 100 continued their rally and recorded all-time highs. Market optimism increased along with the narrative of interest rate cuts in 2024, after being at the highest level in the last two decades. The financial report release season also provided a positive catalyst.

From Asia, the People's Bank of China (PBoC) in January 2024 again set an expansive monetary policy with a benchmark lending rate (LPR) tenor of 1 year (medium-term lending) which is usually used for household and corporate loans remaining at 3.45%. Meanwhile, the 5-year tenor interest rate, which is the benchmark for property loans, was also maintained at a level of 4.2%.

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Here are the recommended stocks from Ajaib Sekuritas for Tuesday (23/1) trading:

1. PT Ace Hardware Indonesia Tbk (ACES)

ACES is in a major bullish trend above MA (5,20,100). It has the potential to continue strengthening followed by the stochastic golden cross indicator in the neutral area and positive MACD bar histogram.

The Consumer Confidence Index (IKK) for the period of December 2023 was recorded at 123.8, up compared to November 2023 at 123.6. The appreciated IKK becomes a positive catalyst for the increase in ACES's Same Store Sales Growth (SSSG). Meanwhile, in 2024 ACES has the potential to add as many as 15 new stores.

Buy recommendation considering the price of Rp 810 Target price: Rp 840 Stop loss: < Rp 770

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2. PT Bumi Serpong Damai Tbk (BSDE)

BSDE has the potential for reversal from short-term bearish. Stochastic indicator crossing in the oversold area and MACD bar histogram weakens limited in accumulation momentum.

As of September 2023, BSDE recorded marketing sales of Rp6.7 trillion or 76% of the target in 2023 of Rp8.8 trillion. In 2024, marketing sales have the potential to strengthen in line with the 100% DTP PPN incentive period Nov 2023-June 2024 for houses with a maximum selling price of Rp5 billion.

Buy recommendation considering the price of Rp 1,045

Target price: Rp 1,080

Stop loss: < Rp 1,030

3. PT Medco Energi Internasional Tbk (MEDC)

MEDC is in a major bullish trend. It has the potential for reversal from its short-term bearish phase. Stochastic indicator in the oversold area indicates a rebound.

The price of WTI crude oil rose +2.18% to USD75 per barrel. The increase was due to Novatek, a Russian energy company, stopping crude oil export operations in the Baltic Sea due to a fire from a Ukrainian drone attack. Meanwhile, demand is potentially increasing along with optimism for economic growth reflected in the movement of the Wall Street index reaching a new record (22/1).

Buy recommendation considering the price of Rp 1,175 Target price: Rp 1,220 Stop loss: < Rp 1,140

Editor: Hasbi Maulana