JCI Is Projected To Move On The Range Of 7,700-7,850

Illustration. (Photo: Doc. Antara)

JAKARTA - The Composite Stock Price Index (JCI) is projected to fluctuate in today's trading, Friday, September 12. Phintraco Sekuritas in its research estimates that the index will move in the resistance range of 7,850, pivot 7,800, and support 7,700.

Phintraco Sekuritas explained that the JCI closed higher at the level of 7,747.91 (0.64 percent) in trading last Thursday. The easing of concerns about economic prospects and improving political and security conditions made the JCI continue to strengthen.

Phintraco Sekuritas said domestic retail sales data in July 2025 grew 4.7 percent YoY, accelerating from an increase of 1.3 percent YoY in June 2025. This is an increase for three consecutive months and is the fastest growth since March 2025.

"This is allegedly in line with the stimulus from the government and the decline in the BI Rate," wrote Phintraco Sekuritas.

Technically, Phintraco Sekuritas explained, the Stochastic RSI indicator formed a Golden Cross in the oversold area and there began to be a negative narrowing of the MACD slope. Even so, the selling pressure on the volume and the JCI is still below MA20.

"Thus, today's JCI is predicted to fluctuate in the range of 7,700-7,850," explained Phintraco Sekuritas.

Meanwhile, Phintraco Sekuritas said the indexes on Wall Street closed higher on Thursday. US CPI inflation data is on an annual basis, but monthly it is above forecast.

Meanwhile, last week's initial claim data experienced an increase at the highest level since October 2021 and above expectations. Meanwhile, ECB maintains its three main interest rates unchanged.

"Today, the market will also await data from the Michigan Consumer Sentiment Preliminary Index in September 2025 which is expected to fall at the level of 58 from 58.2 in August 2025," said Phintraco Sekuritas.

Not only that, continued Phintraco Sekuritas, the market is waiting for investors to pay close attention to the UK GDP data in July 2025 which is estimated to grow 0 percent MoM, after June 2025 grew 0.4 percent MoM. Meanwhile, YoY is estimated to grow 1.5 percent YoY from 1.4 percent YoY in June 2025.

The stocks recommended by Phintraco Sekuritas today are ESSA, BTPS, SMGR, KLBF and TAPG.