JAKARTA - The Jakarta Composite Index (JCI) is predicted to consolidate at the start of this week's trading, awaiting new catalysts. Phintraco Sekuritas, in its research, predicts the JCI will move within the resistance range of 8,070, the pivot point of 8,050, and the support level of 7,970.
Phintraco Sekuritas explained that Wall Street's stock index closed higher at a new record high in trading on Friday, September 19th, leading to a higher closing of last week. This was due to the Fed's interest rate cut at its meeting last week.
"This has raised investor hopes for further interest rate cuts, which could stimulate economic growth," wrote Phintraco Sekuritas.
Meanwhile, Phintraco Sekuritas continued, in a phone call between United States (US) President Donald Trump and Chinese President Xi Jinping, Trump stated that there had been progress in trade negotiations, an agreement on TikTok, and efforts to end the Russia-Ukraine war.
"There is potential for a meeting between the two presidents in South Korea at the APEC Summit on October 31-November 1, 2025," added Phintraco Sekuritas.
This week, Phintraco Sekuritas stated that market attention remains focused on the interest rate outlook, along with speeches from Fed officials, including the Fed Chairman. Investors will also be closely monitoring the PCE price index and updated GDP estimates for Q2 2025.
From China, investors will be awaiting the Chinese central bank's monetary policy decision today. Domestically, M2 Money Supply data for August 2025 will be released on Tuesday.
Technically, Phintraco Sekuritas stated that after the JCI reached a new record high last week, the Stochastic RSI indicator is trending into overbought territory, but the MACD histogram is still in positive territory.
"The JCI is expected to consolidate this week in the range of 7,970-8,070, while awaiting a strong new catalyst," explained Phintraco Sekuritas.
The stocks recommended by Phintraco Sekuritas today are SRTG, RATU, BKSL, ADRO, and TOWR.
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