JCI Tuesday Tests Level 7.600, See Stock Recommendations

Illustration. (Photo: Dok. Antara)

JAKARTA - The Composite Stock Price Index (IHSG) has the potential to test the level of 7,600 in trading, today, Tuesday, April 14, after yesterday closed up 0.56 percent to the level of 7,500.1.

Phintraco Sekuritas in its research said that the JCI yesterday opened weak due to the rise in crude oil prices after the US-Iran negotiations failed to reach an agreement and President Trump announced that the US Navy would block the Strait of Hormuz.

The failure of negotiations and the US blockade of the Strait of Hormuz has dampened hopes for a quick end to the conflict in the Middle East and has the potential to increase geopolitical tensions and trigger global energy shocks.

However, then the JCI turned around to move in positive territory, driven by an increase in energy sector shares (2.64 percent), raw materials (2.36 percent) and the primary consumer goods sector (2.3 percent), despite a weakening in the financial sector (1.31 percent).

Phintraco Sekuritas explained that technically, the MACD indicator continued to form a positive histogram, but the Stochastic RSI was in the overbought area.

"If the JCI is able to stay above the 7,500 level, it is estimated that it has the potential to test the 7,600 level," wrote Phintraco Sekuritas.

The rupiah closed slightly weaker at 0.01 percent at Rp17,105 per US dollar in the spot market on Monday. Meanwhile, domestic retail sales data grew 6.5 percent YoY in February 2026 from 5.7 percent YoY in January 2026, and higher than the forecast of 5.9 percent YoY.

This growth is the fastest since March 2024, driven by an increase in public spending during Ramadan and ahead of Eid al-Fitr.

Meanwhile, President Prabowo visited Russia to meet with President Vladimir Putin on Monday. The meeting will discuss, among other things, the continuation of cooperation between the two countries, including strengthening the supply of oil to Indonesia in the midst of the current conflict in the Middle East.

However, it is feared that the purchase of oil from Russia will still be constrained if the shipping route remains through the Strait of Hormuz. In addition, there is a threat of the impact of EU sanctions on oil trade from Russia.

Phintraco Sekuritas recommends five stocks for today, namely CUAN, RATU, NICL, ANTM and LSIP.