JAKARTA - The Composite Stock Price Index (JCI) is predicted to have the opportunity to continue strengthening in trading, today, Wednesday, March 11, after yesterday rose 1.41 percent to 7,440.9.
The JCI rebounded from a sharp correction the day before, which was triggered by a correction in crude oil prices, the strengthening of Wall Street and Asian stock indices, and a technical rebound.
All sectors strengthened with the largest strengthening in the raw materials sector, in line with the rebound in gold prices on Tuesday. The rupiah also closed stronger at around Rp16,855 per US dollar.
Technically, the Stochastic RSI is still in the oversold area, but has not indicated a reversal. The formation of a negative MACD histogram is still continuing. The JCI is still closing below the MA5 level.
"It is estimated that if the JCI can be closed above the level of 7,500, then there is an opportunity for a continued rebound to test the level of 7,600," wrote Phintraco Sekuritas.
It was explained that domestic retail sales data grew 5.7 percent YoY in January 2026 from 3.5 percent in December 2025, and better than the forecast of 4 percent YoY.
Retail sales in February 2026 are also expected to accelerate in line with the Chinese New Year, the start of Ramadan, and the eve of Eid al-Fitr.
Meanwhile, from the US, this Wednesday investors will look forward to February 2026 inflation data which is expected to be stable at 2.4 percent YoY. As for core CPI is expected to be stable at 2.5 percent YoY.
Phintraco Sekuritas gives recommendations for five stocks today, namely INKP, ASII, INDY, MBMA and TINS.
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