Still Covered by Uncertainty, the JCI is Projected to Move in the Range of 8,180-8,300 this Weekend

Illustration. (Photo: Dok. Antara)

JAKARTA - The Composite Stock Price Index (JCI) is predicted to move sideways in trading, today, Friday, February 13, after yesterday closed down 0.21 percent to 8,265.3.

Phintraco Sekuritas in its research said the JCI experienced a rally for three consecutive days, and finally yesterday the JCI closed weaker which was among others driven by profit-taking ahead of the long weekend.

Investors still tend to carry out short-term trading strategies, amid the still existing uncertainty. The health sector experienced the largest correction, while the raw materials sector recorded the largest increase.

The rupiah also closed weaker at Rp. 16,810 per US dollar in Thursday's trading as the US dollar strengthened against most other major currencies, after US labor data were better than estimates, thus lowering expectations for a Fed rate cut this year.

Phintraco Sekuritas explained that technically, the JCI is still above the MA5 and MA200 levels although it was not able to hold above the level of 8,300.

Although it is suspected that there is distribution along with profit taking, the negative histogram of MACD continues to narrow and the Stochastic RSI continues to move stronger in the pivot area.

"It is estimated that the JCI will tend to move sideways in the range of 8,180-8,300 on Friday's trading, ahead of the Chinese New Year holiday," wrote Phintraco Securities.

President Prabowo plans to hold an economic sarasehan to provide a comprehensive explanation of the national economic conditions and the government's response to various global developments this Friday.

The government hopes that the meeting will answer concerns regarding the decision of the Moody's Ratings rating agency to downgrade Indonesia's credit rating outlook from stable to negative.

From the global market, investors will look at the US inflation data for January 2026 which according to consensus reached 2.5 percent YoY, slowing from 2.7 percent YoY in December 2025.

Core inflation is also expected to slow to 2.5 percent YoY in January 2026 from 2.6 percent YoY in December 2025. This inflation data will be of concern to investors after the US nonfarm payrolls data was better than expected.

Phintraco Sekuritas recommends five stocks for today, namely SMGR, ASII, INTP, PGEO and SMDR.