JCI This Week Projected To Continue Positive Trends, Check Out Stock Recommendations

Illustration. (Photo: Doc. Antara)

JAKARTA - The Composite Stock Price Index (JCI) shot up 4.5 percent over the past week. For this week, analysts also predict the JCI will continue to rally supported by a number of global and domestic catalysts.

In his research, Phintraco Sekuritas said that market expectations for the decline in the US central bank interest rate, The Federal Reserve next week will also be a positive factor for the JCI this week.

Investors also hope that a meeting will be realized between US President Donald Trump and Chinese President Xi Jinping, so that it can disburse tensions in trade relations between the two countries.

"In addition, investors are also optimistic about earning the season for the third quarter of 2025 and improving the domestic economy in the fourth quarter of 2025," explained Phintraco Sekuritas.

According to him, the focus of market attention will be on the Fed meeting, which is estimated that consensus will again lower interest rates by 25 basis points to 4 percent.

In addition, the market will also pay close attention to the meeting between President Trump and President Xi in South Korea which is scheduled for Thursday, October 30. Prior to that, the market will also await the results of a meeting between the US Treasury Minister and representatives of the Chinese Prime Minister on Saturday, October 25 and Sunday, October 26 in Malaysia.

Technically, the JCI formed a shooting star candlestick indicating potential corrections. Meanwhile, the RSI Stochastic has the potential to form a Death Cross in the pivot area. JCI has the potential to test support levels of 8,200 and resistance levels of 8,300 this week.

With the above sentiments, the shares chosen by Phintraco Sekuritas for today are RAJA, JSMR, PNLF, INTP, AUTO, and ESSA.