JCI Tuesday Projected To Strengthen, Five Stocks Worth Watching

Illustration. (Photo: Doc. Antara)

JAKARTA - The Composite Stock Price Index (JCI) is projected to strengthen in today's trading, Tuesday, July 29, after yesterday's narrow rise of 0.94 percent to the level of 7,614.

Phintraco Sekuritas in his research saw that the strengthening of the JCI was triggered by positive sentiment in achieving a trade agreement between the United States (US) and the European Union announced by US President Donald Trump, Sunday, July 27 local time.

The deal puts pressure on Trump's tariff threat, which was originally set at 30 percent to 15 percent for the European Union. In a statement, Trump explained that the tariff applies to most European goods entering the US market, including cars.

However, a number of products such as aircraft and their components, certain chemicals, and pharmaceutical products will be excluded from these rates. In addition to this agreement, the strengthening of the JCI thanks to the hecticness of issuers releasing their performance reports in the first semester of 2025.

"The infrastructure sector posted the largest strengthening, while the health sector was the only sector that weakened," explained Phintraco Sekuritas.

Technically, the JCI opened higher and formed a gap, but the closing of the index was below its open level. That way, the JCI has the potential to form a shooting star pattern, which is supported by an increase in selling volume in overbought areas in trading this Tuesday.

This shows that selling pressure is starting to emerge, but there are no indications of a reversal and has not changed the bullish trend. The existence of a gap down around the level of 7,550-7,568, makes the JCI vulnerable to short-term pullback in the midst of overbought conditions," explained Phintraco Sekuritas.

Phintraco Sekuritas predicts the JCI support level at 7,550 and resistance at 7,670 in trading this Tuesday. The recommended stocks include BBNI, MBMA, BKSL, MDKA, and TKIM.