JCI Is Projected To Correct On Weekend, Five Shares Could Be Cuan's Choice

JAKARTA - The Composite Stock Price Index (JCI) is projected to weaken in today's trading, Friday, September 19. Phintraco Sekuritas in his research said the JCI today will move at 8,070 resistance, 8,050 pivots, and 7,970 supports.

Phintraco Sekuritas explained that the JCI closed lower at 8,008.43 (0.21 percent) on Thursday's trading, after moving fluctuately in the range of 7,995-8,068.

Investors tend to sell on news over the Fed's pre-anticipated rate drop and profit taking action after reaching a new high, wrote Phintraco Sekuritas.

The financial sector recorded the largest weakness, while stocks in the technology sector posted the largest strengthening. Indications of a one-time reduction in Fed interest rates in 2026, once in 2027 and no cuts in 2028.

"This is quite disappointing for the market, which hopes that more interest rates will continue next year," said Phintraco Sekuritas.

From Japan, today, investors will be watching the monetary decision of the Bank of Japan which is expected to keep its benchmark interest rate at the level of 0.5 percent, which is the highest level since 2008.

Meanwhile, from the UK, retail sales data will be released in August, which is estimated to slow down to 0.4 percent MoM from 0.6 percent in July 2025.

Technically, Phintraco Sekuritas said, MACD indicators formed a golden cross with a positive histogram and the Stochastic RSI was still in the pivot area. JCI is still above the MA20 and MA200 levels, which indicates that in the short term and long term it is still in the bullish area.

However, continued Phintraco Sekuritas, currently the JCI is in the upper band Bollinger bands, indicating there is a potential for short-term correction or consolidation as it approaches the overbought area.

"Thus, today's JCI is expected to tend to move sideways in the range of 7,970-8,070," said Phintraco Sekuritas.

The stocks recommended by Phintraco Sekuritas today are RAJA, CUAN, BUKA, EMTK and TOBA.