JCI Is Projected To Weaken At The End Of The Week Due To Profit Taking, Five Stocks Are Recommended

JAKARTA - The Composite Stock Price Index (JCI) is projected to weaken in today's trading, Friday, August 22, after closing down 0.67 percent or cut 53.11 points to the level of 7,890.71.

In his research, Phintraco Sekuritas said that yesterday's JCI correction was still caused by profit-taking of a number of stocks with large market capitalization.

"Technically, although medium-long the JCI trend is still bullish, some indicators show the potential for short-term corrections," explained Phintraco Sekuritas.

JCI is predicted to move sideways to weaken in the support range of 7,800 and resistance 7,930. His accompanying sentiment is Indonesia's current account deficit in the second quarter of 2025 which reached 3 billion US dollars, up from a deficit position of 228 million US dollars in the first quarter and relatively the same compared to the second quarter of the previous year.

This marks the current account deficit for nine consecutive quarters and is the largest deficit since the second quarter of 2024, equivalent to 0.8 percent of gross domestic product (GDP).

Meanwhile, Bank Indonesia targets the current account deficit to run around 0.5-1.3 percent of GDP this year.

In addition, investors will also pay close attention to data on money circulating in the July M2 which is estimated to rise 6.7 percent YoY and higher than the growth of 6.5 percent YoY in June.

"The acceleration of the amount of money circulating in the M2 indicates that economic activity and liquidity are starting to increase, one of which is allegedly due to the cutting of the BI rate (a reference interest rate) and the existence of social assistance from the government," explained Phintraco Sekuritas.

From the United States, the market will also await the US central bank chairman of The Fed's Jerome Powell's speech at tomorrow's Jackson Hole.

The recommended stocks include PT Japfa Comfeed Indonesia Tbk (JPFA), PT Elnusa Tbk (ELSA), PT Midi Utama Indonesia Tbk (MIDI), PT Cipta Niaga Multiguna Tbk (CNMA), and PT Samudera Indonesia Tbk (SMDR).