JAKARTA - The Composite Stock Price Index (JCI) is predicted to continue to strengthen in today's trading, Wednesday, July 9. Phintraco Sekuritas in its research predicts the JCI will move in the resistance range of 7,000, pivot 6,900, and support 6,800.
Phintraco Sekuritas explained that the JCI closed up 0.05 percent to the level of 6,904.39 on Tuesday, after moving lower. Responding to negative sentiment from the determination of the US import rate of 32 percent starting August 1, 2025, the JCI tends to move in negative territory.
Nevertheless, continued Phintraco Sekuritas, the JCI is still moving in a narrow range with relatively low volume and trade value than the daily average.
"This suggests investors are still likely to wait and see looking forward to a strong new catalyst," wrote Phintraco Sekuritas.
From economic data, it is indicated that people's purchasing power still tends to be weak. Indonesia's Consumer Confidence Index in June 2025 slightly rose to the level of 117.8 from 117.5 in May 2025.
Despite the increase, Phintraco Sekuritas assessed that the figure is still near its lowest level since September 2022. Furthermore, retail sales data will be released in May 2025 today, which is estimated to increase by 0.3 percent YoY, after a 0.3 percent decline in the previous month. YoY.
From the United States (US), tomorrow tomorrow investors are also waiting for the minutes FOMC to look for indications of the Fed's monetary policy direction for the remainder of this year.
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Technically, Phintraco Sekuritas said, the Stochastic RSI indicator formed a golden cross in the pivot area. The negative slope of MACD began to narrow down with a negative histogram that continued to shrink. The volume of purchase also increased.
"Thus, the JCI today has the opportunity to continue its rebound to the level of 6,950-6,970, if it is able to stay above the 6900 level with the support of stronger purchasing volume," said Phintraco Sekuritas.
The stocks recommended by Phintraco Sekuritas today are BUMI, TAPG, INTP, JPFA and ISAT.
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