JCI Is Projected To Print The Highest Record Again On Wednesday, Check Out Stock Recommendations
JAKARTA - The Composite Stock Price Index (JCI) is projected to set an all-time high (ATH) today, Wednesday, October 8. Phintraco Sekuritas in its research estimates that the index will move in the range of resistance 8,250, pivot 8,200, and support 8,120.
Phintraco Sekuritas explained that the JCI closed higher on an all-time high of 8,169.28 (0.36 percent) in trading last Tuesday. JCI also touched a record high of all time intraday at the level of 8,217.
The World Bank increased Indonesia's economic growth projection in 2025 to 4.8 percent YoY from the previous projection of 4.7 percent YoY. For 2026, the World Bank predicts Indonesia's economy will grow 4.8 percent YoY, the same as previously predicted.
Data on Indonesia's foreign exchange reserves in September 2025 fell to 148.7 billion US dollars from 150.7 billion US dollars in August 2025. This is the lowest level since July 2024, where this decline was caused by debt payments by the government and the policy of stabilizing the rupiah exchange rate.
"However, foreign exchange reserves are currently still able to finance 6.2 months of imports or 6 months of imports and debt payments, above the international standard of 3 months of imports," wrote Phintraco Sekuritas.
Phintraco Sekuritas said that today investors will look forward to data on the Consumer Confidence Index in September 2025 which is expected to rise at the level of 120 out of 117.2 in August 2025 (8/10). In addition, data on motorcycle sales will be released on the domestic market in September 2025.
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Technically, Phintraco Sekuritas explained, the Stochastic RSI indicator moves in the pivot area and there is a negative narrowing of the MACD slope with the potential to form a Golden Cross, which is an early signal of bullish momentum.
"Thus, today's JCI is predicted to continue strengthening testing a record high of all time at 8,217. If the JCI is able to stay above the 8,200-8,217 level with volume support, then the bullish signal will be even stronger," said Phintraco Sekuritas.
The stocks recommended by Phintraco Sekuritas today are INDF, ASSA, MDKA, BKSL and PWON.