JCI Monday Projected to Move in the Range of 6,800-7,000, Watch the Stock Recommendations

JAKARTA - The Composite Stock Price Index (JCI) is projected to test the range of 6,800 - 7,000 this week. Phintraco Sekuritas in its research said that this week's JCI is expected to move in the range of resistance 7,200, pivot 7,000, and support 6,800.

Phintraco Sekuritas explained that the index on Wall Street closed down on Friday's trading last weekend and entered a five-week correction in a row. The index's weakness was triggered by the strengthening of crude oil prices amid doubts about negotiations to end the war between the US and Iran.

Phintraco Sekuritas added that the Nasdaq Composite had entered a correction area, namely if the index had fallen 10 percent or more from its highest level. Brent crude prices rose 4.22 percent at 112 US dollars per barrel and WTI crude prices rose 5.46 percent at 99 US dollars per barrel.

"Both are the highest closing levels since July 2022," wrote Phintraco Sekuritas.

Phintraco Sekuritas said the uncertainty of the continuation of the US-Iran negotiation efforts pushed crude oil prices to strengthen again, even though Iran allowed some ships to pass through the Strait of Hormuz.

US President Donald Trump extended the deadline for attacks on Iran until April 6, 2026, but reports of the addition of 10 thousand US troops are increasingly fueling fears of a prolonged war. The Houthi attack on Israel, further escalating the war.

Phintraco Sekuritas assessed that the longer-lasting Iran conflict was feared to have an impact not only on price increases, but also on the availability of crude oil. Several countries, especially from Asia, have announced a fuel crisis.

"If this lasts long and spreads, it will have an impact on slowing the global economy and triggering the potential for stagflation," added Phintraco Securities.

From domestic, Phintraco Sekuritas said, several economic data will be released on Wednesday, April 1, namely the S&P Global Manufacturing PMI index, trade balance, and inflation. BEI will revise the special monitoring board rules in the second quarter of 2026.

"Ahead of the long weekend and the deadline for the US attack, it is estimated that investors will tend to be cautious, if there is no positive change this week. It is estimated that this week's JCI has the potential to test the level of 6,800-7,000," explained Phintraco Securities.

Phintraco Sekuritas recommends five stocks that are worth referring to today, namely MEDC, ENRG, PTRO, ANTM and CUAN.