JCI Thursday Potentially Breaks Through to 7,200, See the Stock Recommendations

Illustration. (Photo: Dok. Antara)

JAKARTA - The Composite Stock Price Index (JCI) has the potential to break through 7,200 in today's trading, Thursday, May 7. Phintraco Sekuritas in its research said that the JCI will move in the range of resistance 7,200, pivot 7,100, and support 7,000.

Phintraco Sekuritas explained that the JCI closed yesterday with a gain of 0.5 percent to the level of 7,092.46. Technically, the JCI managed to close above the MA5, followed by a narrowing of the negative histogram on MACD and Stochastic RSI which moved up from the oversold area.

"Thus, today's JCI is predicted to continue to strengthen and test the level of 7,150-7,200," wrote Phintraco Sekuritas.

Phintraco Sekuritas said the Government is ready to prepare a plan to issue debt instruments in Yuan currency in China, or known as Panda Bonds. This is done as one of the efforts to strengthen the stability of the Rupiah exchange rate through diversification of international financing sources.

With this issuance plan, Phintraco Sekuritas expects the Government of Indonesia not only to depend on US Dollar financing, but also has the potential to get a lower interest rate.

Phintraco Sekuritas added that the government also revised the rules for Foreign Exchange from the Export of Natural Resources and Related Activities which require exporters to place export proceeds in the Himbara bank and convert a maximum of 50% into Rupiah, which will be effective starting June 1, 2026.

Not only that, Phintraco Sekuritas said, the government is preparing to provide intensive subsidies for the purchase of battery-based electric motor vehicles (KBLBB) in early June 2026. With this subsidy, in addition to being able to encourage an increase in people's purchasing power in the purchase of KBLBB, it is hoped that it will also be able to reduce fuel consumption.

"This subsidy quota scheme will be released gradually. The government will allocate a quota of 100 thousand units of vehicles in the initial phase," explained Phintraco Sekuritas.

Phintraco Sekuritas recommends five stocks for trading today, namely HRTA, PSAB, OASA, TOBA, and ESSA.