JCI Could Drop To 7,500 On Wednesday, Here Are Various Sentiments

Illustration. (Photo: Doc. Antara)

JAKARTA - The Composite Stock Price Index (JCI) is likely to decline to 7,500 levels in today's trading, Wednesday, September 10. Phintraco Sekuritas in its research estimates the JCI will move in the resistance range of 7,760, pivot 7,650, and support 7,500.

Phintraco Sekuritas explained that the JCI closed lower at the level of 7,628.61 (1.78 percent) on Tuesday, September 9. Investors' concerns about increasing economic uncertainty.

"This is in line with the cabinet reshuffle related to the minister's direct impact on the economy, which is still a negative sentiment on the stock exchange and rupiah," wrote Phintraco Sekuritas.

Shares in the technology sector recorded the largest weakening. Meanwhile, shares in the transportation sector posted the largest strengthening.

Meanwhile, Phintraco Sekuritas said domestic car sales in August 2025 fell 19 percent YoY, after falling 18% YoY in the previous month. This marked a decline for four consecutive months amid the weakening purchasing power of the people.

However, compared to July 2025, car sales in August 2025 rose 1.5 percent MoM.

"Investors will pay close attention to the consumer confidence index in August 2025 today, which is expected to rise at the level of 119.3 from the previous month at the level of 118.1," he explained.

Technically, Phintraco Sekuritas added, there was a negative slope widening of MACD and Stochastic RSI experienced Death Cross. JCI moved away from the MA20 level at around 7,845 and closed below the support level of 7,630.

"So that in the short term it is estimated that the JCI has the potential to continue corrections and test support levels at 7,500-7,550," said Phintraco Sekuritas.

Globally, continued Phintraco Sekuritas, today is scheduled to be released data on Chinese inflation in August 2025, which is expected to deflate 0.2 percent YoY from the previous month which was stagnant.

From the US, Phintraco Sekuritas said investors would pay close attention to inflation at the producer level in August 2025 which is expected to slow down to 0.3 percent MoM from 0.9 percent MoM in July 2025. The PPI index in July 2025 then posted its highest increase since June 2022.

"The annual PPI index is estimated to remain at the level of 3.3 percent YoY," said Phintraco Sekuritas.

The stocks recommended by Phintraco Sekuritas today are TOBA, ENRG, JPFA, ASSA and WIFI.