JCI Tests Level 7,300-7,325 Weekend, Check Out Stock Recommendations

JAKARTA - The combined stock price index (JCI) is projected to test the 7,300 level in trading today, Friday, July 18. Phintraco Sekuritas in its research estimates the JCI will move in the resistance range of 7,325, pivot 7,300, and support 7,250.

Phintraco Sekuritas explained that the JCI closed up 1.32 percent to the level of 7,287 on Thursday. Positive factors still come from the euphoria of lowering the resipulation rate for Indonesia from 32 percent to 19 percent, reducing the BI Rate to 5.25 percent, several positive news individual issuers, and ahead of the 2025 quarter II earnings season.

Liquidity is starting to increase in the market, as can be seen from the value of transactions that are above the daily average value. Four of the 11 sectors posted an increase, with stocks in the technology sector recording the biggest increase," wrote Phintraco Sekuritas.

Phintraco Sekuritas assessed that the achievement of an initial trade agreement with the US was so that the tariff for Indonesia was lowered to 19 percent from 32 percent, expected to increase Indonesia's export competitiveness.

"This is because until now Indonesia's tariff is the second lowest in the Asean region, after Singapore," added Phintraco Sekuritas.

In addition, Phintraco Sekuritas added, an agreement was reached to complete the Indonesia 'European Union Comprehensive Economic Partnership Agreement (IEU-CEPA) negotiations which has been going on for more than a decade, which is also expected to have the potential to increase Indonesia's exports to Europe.

"Meanwhile, the decline in the BI Rate is expected to help boost economic growth, amid indications of a weakening of people's purchasing power recently," explained Phintraco Sekuritas.

Technically, Phintraco Sekuritas explained, the MACD indicator shows positive slope widening with the support of a positive histogram increase. The Accumulation/Distribution indicator shows volume accumulation, supporting a strengthening trend. So that today's JCI is expected to potentially test resistance levels at 7,300-7,325.

"However, it is necessary to be aware of short-term profit taking actions on weekends supported by the Stochastic RSI indicator in the overbought area," said Phintraco Sekuritas.

The stocks recommended by Phintraco Sekuritas today are PSAB, TLKM, HRUM, JSMR and AMRT.