JCI Tuesday Projected to Test Level 9.200, Watch the Stock Recommendations

JAKARTA - The Composite Stock Price Index (JCI) is predicted to test the level of 9,150-9,200, in today's trading, Tuesday, January 20, after yesterday strengthened 0.64 percent at a new high level at 9,133.8.

Although the increasing tension between Europe and the US has become a global negative sentiment, pushing the rupiah to weaken to the level of Rp16,955 per US dollar.

Phintraco Sekuritas in its research said that the strengthening of large banking stocks ahead of the earnings season and the expectation of dividend distribution is one of the drivers of the index strengthening.

"Technically, there is a widening of the positive histogram of MACD which is also supported by an increase in buying volume. Stochastic RSI is still moving stronger in the overbought area. So it is estimated that the JCI has the potential to test the level of 9.150-9.200," wrote Phintraco Sekuritas.

The majority of indexes on Asian exchanges closed lower on Monday, January 19, triggered by negative sentiment from rising political tensions in Greenland as well as assessing economic data from China.

China's economy grew 4.5 percent YoY in the fourth quarter of 2025, slowing from 4.8 percent in the third quarter of 2025 and the slowest growth in the last three years.

Chinese retail sales data also slowed to 0.9 percent YoY in December 2025 from 1.3 percent YoY. Meanwhile, industrial production accelerated to 5.2 percent YoY in December 2025 from 4.8 percent YoY, Monday.

In addition, the index on the European exchange opened weaker due to threats from President Trump to raise tariffs on products from 8 NATO member countries if they oppose Trump's plan to acquire Greenland. Futures indexes on Wall Street also moved weaker.

Phintraco Sekuritas recommends five stocks for today, namely GGRM, MYOR, INET, TAPG and CUAN.