JAKARTA - The Composite Stock Price Index (JCI) has the potential to weaken because it is haunted by profit-taking in today's trading, Friday, November 7, after closing up 0.22 percent yesterday to 8,337.06.
Phintraco Sekuritas in his research said yesterday's increase in the index was supported by optimism for the domestic economy in the fourth quarter of 2025 and the euphoria of the announcement of a quarterly review of the MSCI index, where a number of shares were successfully included in the index calculation.
Sejalan, nilai tukar rupiah di pasar spot juga menguat ke level Rp16,701 per dolar AS pada Kamis kemarin, di tengah menantisipasi rilis data cadangan devisa Indonesia untuk Oktober 2025.
The data is awaited by the market after previously the foreign exchange reserves fell to their lowest position since July 2024, triggered by payment of government foreign debt and Bank Indonesia intervention to maintain rupiah stability.
Although household consumption had slowed down due to the absence of momentum for religious celebrations, the market still responded positively to Indonesia's economic growth which reached 5.04 percent in the third quarter of 2025. This figure is higher than the 2024 economic growth of 5.03 percent.
From a global perspective, the stock market is still observing the economic development of the United States, especially labor data, the direction of the Fed's interest rate policy, as well as geopolitical developments and the rate war that has begun to subside.
Technically, Phintraco Sekuritas assesses that the JCI is now in an overbought area.
SEE ALSO:
The RSI Stochastic Indicator is already in the overbought area and shows the potential for short-term corrections. JCI has the potential to experience profit taking in the support range of 8,280-8,310, "explained Phintraco Sekuritas.
"For Friday's trading, the resistance level is at 8,360 with a pivot at 8,280 and support at 8,250," he added.
The top picks shares of Phintraco Sekuritas include ASII, ADRO, BTPS, AADI, and UNTR.
The English, Chinese, Japanese, Arabic, and French versions are automatically generated by the AI. So there may still be inaccuracies in translating, please always see Indonesian as our main language. (system supported by DigitalSiber.id)
