JAKARTA - The Composite Stock Price Index (JCI) has the opportunity to continue strengthening in today's trading, Tuesday, February 24, after yesterday rose 1.5 percent to 8,396.
Phintraco Sekuritas in its research said investors responded positively to the cancellation of the implementation of President Trump's reciprocal tariffs by the US Supreme Court, although Trump later stated that he would impose a new global tariff of 15 percent.
Phintraco Sekuritas explained that investors hope that the trade agreement between the US and Indonesia, which was signed last week, can be canceled, because in the agreement the tariffs set are higher, namely 19 percent.
In addition, positive factors also come from the news that MSCI approved the proposal of the IDX and OJK. The rupiah also closed stronger at Rp16,802 per US dollar in the spot market, on Monday.
Meanwhile, data on Money Supply M2 in Indonesia increased 10 percent YoY in January 2026, accelerating from 9.6 percent YoY in December 2025.
Technically, the Indonesian Stock Exchange MACD histogram continues to move stronger in the positive territory and supported by an increase in buying volume. However, Stochastic RSI has started to slow down and is in the overbought area.
"JCI closed above the MA20 level. So it is estimated that JCI has the opportunity to continue strengthening and testing the level of 8,450-8,500, if it can be closed above the level of 8,400," wrote Phintraco Sekuritas.
The majority of indices on the Asian stock exchange closed higher on Monday's trading, amid uncertainty over US tariffs after President Trump announced that he would impose a global tariff of 10-15 percent.
Phintraco Sekuritas recommends five stocks for today, namely BBRI, BRPT, UNVR, ESSA, and TINS.
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