JCI Is Predicted To Move On The Range Of 7,800-7,950 On Monday, Check Out Stock Recommendations

JAKARTA - The Composite Stock Price Index (JCI) is projected to move consolidated in today's trading, Monday, September 8. Phintraco Sekuritas in its research estimates the JCI will move in the resistance range of 7,950, pivot 7,900, and support 7,800.

Last week, Phintraco Sekuritas explained, Wall Street's stock indexes closed mixed, after trading Friday, September 5 closed lower due to labor data that were below estimation. The August nonfarm payroll data was recorded at 22 thousand, much lower than the 75 thousand estimated. The unemployment rate rose at the level of 4.3 percent, according to estimates.

"Although this weakening labor data further increases the potential for a reduction in Fed interest rates this month, on the other hand it has also raised concerns about a potential US economic slowdown," wrote Phintraco Sekuritas.

Phintraco Sekuritas added that yields (yield) of 10-year US government bonds fell 8 bps to a level of 4.091%, which is the lowest level since April 7, 2025. The price of spot gold rose 1.4 percent to 3,596 US dollars per troy ounce, continuing to reach an all-time high (ATH) record.

This week, investors will pay close attention to data on CPI and US PPI inflation. The ECB is expected to maintain a fixed interest rate and release economic macro projections. From Germany, France and the UK will be released industrial production data.

Meanwhile, from China, inflation data will be released as well as the potential for economic policy to be announced.

Domestically, Phintraco Sekuritas reminded that investors will still pay close attention to developments in domestic security and political conditions. Domestic foreign exchange reserves, automotive sales, consumer confidence, and retail sales will also be released.

Phintraco Sekuritas said that although at the end of last week the JCI weakened due to profit taking ahead of the long weekend, the JCI was still above the MA20 level around the level of 7,827. RSI's Stochastic also shows a reversal, but MACD's histogram is still negative.

"Thus, the JCI is expected to move to consolidate today in the range of 7,800-7,950," explained Phintraco Sekuritas.

The stocks recommended by Phintraco Sekuritas today are BBCA, BBTN, ENRG, SIMP, CPIN and SIDO.