JCI Tuesday Projected to Tap Gas to Range 6,080-6,120, Watch Stock Recommendations

JAKARTA - The Composite Stock Price Index (JCI) is projected to continue to accelerate in today's trading, Tuesday, July 14. Phintraco Sekuritas in its research said that today's JCI will move in the range of resistance 6,120, pivot 6,000, and support 5,950.

Phintraco Sekuritas explained that the JCI closed yesterday with a gain of 1.92 percent to the level of 6,037.84. Volume and transaction value tend to increase compared to last week. Technically, the JCI has broken out above the level of 6,000 and closed above the level of MA5, MA10 and MA20.

"Furthermore, today's JCI has the potential to test the resistance level at 6,080-6,120. However, it is necessary to be aware of the negative sentiment of rising oil prices which can burden the strengthening of the index," wrote Phintraco Sekuritas.

Phintraco Sekuritas said the positive sentiment came from S&P Global Ratings which affirmed Indonesia's long-term credit rating at 'BBB' and short-term at 'A-2'.

The outlook for the long-term rating is still maintained at 'Stable'. The institution assesses that the weakening of Indonesia's fiscal and external positions is temporary and has the potential to improve as commodity prices rise and the government seeks to increase state revenues.

According to Phintraco Sekuritas, the maintained stable outlook reflects the expectation that export receipts will increase in tandem with rising commodity prices.

"With the maintenance of Indonesia's ranking, it is expected to increase investor confidence in the domestic stock market so that it will again encourage the inflow of foreign capital and become a positive catalyst for the continued rebound of the JCI today," explained Phintraco Sekuritas.

Phintraco Sekuritas added, S&P estimates that Indonesia's economy will still be able to grow 5.1 percent in 2026, before recording an average growth of 4.9 percent per year throughout 2026-2029. This outlook is supported by fiscal spending, downstream programs, and strengthening the management of the natural resources sector.

"However, S&P also reminds that rapid policy changes and implementation uncertainties still have the potential to affect investor confidence and put pressure on the financial market and the Rupiah exchange rate," added Phintraco Sekuritas.

Phintraco Sekuritas recommends five stocks for trading today, namely BBNI, BBCA, BMRI, TLKM and ASII.