JCI Is Projected To Move On 8,500-8,600 Weekends, Check Out Stock Recommendations

Illustration. (Photo: Doc. Antara)

JAKARTA - The Composite Stock Price Index (JCI) is projected to move consolidated today, Friday 28 November. Phintraco Sekuritas in its research said today's index will move in the resistance range 8,600, pivot 8,550, and support 8,500.

Phintraco Sekuritas explained that the JCI closed lower yesterday at the level of 8,545.86 (-0.65 percent), after reaching an all-time high (ATH) intraday record at 8,622. The pressure mainly came from the primary consumption, health and technology sectors. Weakening was also triggered by corrections to a number of large-scale capitalized stocks.

"Investors also tend to wait and see ahead of the release of a series of important domestic data early next week which includes Manufacturing PMI, inflation, and October trading performance," wrote Phintraco Sekuritas.

Phintraco Sekuritas explained, the governments of Indonesia and China agreed to expand the twin industrial estate project or Two Countries Twin Parks (TCTP) in 2026. The TCTP project between Indonesia and China has been running in industrial areas in Batang, which is then targeted for the expansion of the TCTP project to various regions, one of which is Bintan Island.

Related to that, continued Phintraco Sekuritas, the Government of Indonesia and China signed 16 MoU investment cooperations worth IDR 36.4 trillion, including exports of steel, nickel, industry, food and marine, as well as solar energy, coal, AI, as well as the development of industrial estates and new energy supply chains.

Meanwhile, Phintraco Sekuritas said that the Indonesian Minister of Finance predicted Indonesia's economic growth would reach 5.6% 5.7 percent in the fourth quarter of 2025, so that economic growth could reach 5.2 percent throughout 2025.

Technically, Phintraco Sekuritas said, the JCI shows a consolidation signal, reflected in the histogram MACD moving sideways and Stochastic RSI which is starting to decline. This pattern indicates the strengthening momentum is starting to subside and opens up opportunities for the JCI to experience pullback testing the MA5 area as a short-term dynamic support.

"Considering these conditions, the JCI is predicted to move in the range of 8,500'8,600," explained Phintraco Sekuritas.

The stocks recommended by Phintraco Sekuritas today are INCO, TOBA, AGRO, ARTO, and CBDK.