JCI Wednesday Can Set The Highest Record Again, Check Out Stock Recommendations

Illustration. (Photo: Doc. Antara)3

JAKARTA - The Composite Stock Price Index (JCI) is predicted to break an all-time high (ATH) record again in today's trading, Wednesday, September 24. Phintraco Sekuritas in its research estimates that the index will move in the resistance range 8,200, pivot 8,150, and support 8,050.

Phintraco Sekuritas explained that the JCI closed higher at the level of 8.125.2 (1.06 percent) on Tuesday (23/9) trading, which is the highest record of all new closing times. Basic material sector shares posted the largest strengthening, while the technology sector's shares became the only sector to weaken.

Phintraco Sekuritas said that rising commodity prices such as gold triggered the continued strengthening of several related stocks. The Minister of Finance's efforts to eradicate illegal cigarettes encourage strengthening of cigarette stocks.

"In addition, the expectations for improving the economy in the second semester are also a positive factor, although the recent weakening of the rupiah has become a negative factor. Expectations for continuing to cut the Fed interest rate are also a positive factor," wrote Phintraco Sekuritas.

Phintraco Sekuritas added, M2 Money Supply data in August 2025 posted an increase of 7.6 percent YoY from 6.6 percent YoY in July 2025 (23/9). This is in line with the relaxation of monetary policy by Bank Indonesia (BI) and the stimulus from the government which aims to encourage increased domestic economic activity.

Technically, Phintraco Sekuritas has donated, MACD's positive histogram shows an increase supported by a strong volume purchase indicator as well as indications of accumulation from the accumulation/distribution indicator.

"However, the Stochastic RSI indicator is in the overbought area. JCI is above the MA5, MA20 and MA200 levels, which indicate it is in the bullish area in the short and long term," said Phintraco Sekuritas.

Thus, Phintraco Sekuritas predicts the JCI today will continue to strengthen in the 8,150-8,200 area, as long as it is closed above the MA5 level around the 8,050 level.

"However, due to the condition of the JCI today in the overbought area, be aware of the potential for minor pullback in the range of 8,050-8,070," explained Phintraco Sekuritas.

The stocks recommended by Phintraco Sekuritas today are ADRO, PGEO, DOID, DKFT and ASII.