JAKARTA - The Composite Stock Price Index (JCI) can continue to strengthen in today's trading, Tuesday, November 11, after experiencing a slight decline of 0.04 percent yesterday to the level of 8,391.24.
Phintraco Sekuritas in his research stated that the JCI was already in an overbought position or overbought, resulting in a weakening earlier this week. In fact, optimism for improving the national economy, improving liquidity, and expectations of corporate actions by several issuers have become positive catalysts for the JCI movement.
JCI also received positive sentiment thanks to the realization of the Consumer Confidence Index (IKK) which increased from level 115 in September 2025 to 121.2 in October 2025. This is the highest level of IKK since April 2025. The increase in IKK indicates that the public is more optimistic about the current and future national economic conditions.
On the other hand, the majority of Asian exchange indexes closed higher. This is influenced by China's policy of lifting a number of important mineral export restrictions and rare earth material to the US as a sign that the trade agreement between the two countries still applies.
From Europe, on Tuesday 11 November, data on the unemployment rate from the UK will be released for September 2025 which is expected to rise to a level of 4.9 percent, compared to 4.8 percent in August 2025. Germany will also release data on the ZEW Economic Sentiment Index in November 2025 which is expected to rise to a level of 42.5, compared to 39.3 in October 2025.
Phintraco Sekuritas said, technically, MACD's positive histograms were increasing along with the increase in the JCI's strengthening momentum. However, Stochastic RSI is in the overbought area and has the potential to form a Death Cross accompanied by an increase in selling volume. As a result, in the short term the JCI is expected to experience a minor pullback due to profit-taking.
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"However, as long as the JCI is able to survive above 8,300-8,340, it is estimated that the JCI bullish condition will continue," explained Phintraco Sekuritas.
The stocks recommended by Phintraco Sekuritas today are PT Merdeka Battery Materials Tbk (MBMA), PT Sarana Menara Nusantara Tbk (TOWR), PT Central Omega Resources Tbk (DKFT), PT Archi Indonesia Tbk (ARCI), and PT Hartadinata Abadi Tbk (HRTA).
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