JAKARTA - The Composite Stock Price Index (JCI) is projected to fluctuate in today's trading, Tuesday, September 2. Phintraco Sekuritas in its research estimates the JCI will move in the resistance range of 7,780, pivot 7,660, and support 7,550.
Phintraco Sekuritas explained that the JCI closed lower at the level of 7,736.07 (1.21 percent) on Monday, after moving lower to the level of 7,547. Concerns about domestic security and political conditions are still negative sentiment.
Nevertheless, Phintraco Sekuritas added, there began to be bargain hunting in deep stocks.
"The increase in global gold prices also encourages purchases in gold commodity stocks. Shares in the technology sector are experiencing the biggest correction," wrote Phintraco Sekuritas.
Technically, Phintraco Sekuritas said that the MACD and Stochastic RSI indicators did not show any signs of a reversal. However, Stochastic RSI, which is in the oversold area and the accumulation of purchases at the support level, indicates the potential for a technical rebound.
However, continued Phintraco Sekuritas, the opportunity for the rebound will be confirmed if the JCI is able to survive above the level of 7,780. So it is estimated that the JCI will still fluctuate in the range of 7,550-7,780.
"The development of the domestic security and political situation as well as the movement of the rupiah is expected to still affect the JCI movement today," added Phintraco Sekuritas.
Phintraco Sekuritas added that domestic economic indicator data is still solid, such as the manufacturing PMI index rising at the level of 51.5 (vs 49.2), which is the highest level since March 2025 and entering the expansion area for the first time after five months in a contraction area.
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Not only that, Phintraco Sekuritas said, the July trade balance still posted a surplus of 4.18 billion US dollars (vs 4.11 billion US dollars). Inflation in August 2025 slowed down to 2.31 percent YoY (vs 2.37 percent), along with deflation of 0.08 percent MoM.
"This inflation rate is still within the BI target range of 1.5 percent YoY-3.5 percent YoY," explained Phintraco Sekuritas.
The stocks recommended by Phintraco Sekuritas today are BBTN, ICBP, ENRG, RAJA and SMGR.
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