JCI This Week Tests Level 7.000, See the Stock Recommendations

Illustration. (Photo: Dok. Antara)

JAKARTA - The combined stock index (JCI) this week is at a crossroads to test the 7,000 level. Phintraco Sekuritas in its research said that this week's JCI is projected to move in the range of resistance 7,150, pivot 7,000, and support 6,850.

Phintraco Sekuritas explained that the main index on Wall Street closed mixed in Friday's trading last weekend. The S&P500 index closed at a new record high, driven by an increase in Apple shares as well as a correction in crude oil prices.

Crude oil prices weakened after Iran sent a new peace proposal to the US via Pakistan. However, President Trump later expressed dissatisfaction with Iran's new offer. President Trump faces a 60-day deadline under the War Powers Resolution regarding military action in the Iran war.

The Trump administration argued that the April 7, 2026, ceasefire had ended hostilities between the two sides, allowing Trump to avoid asking Congress for approval for the war.

This week, continued Phintraco Sekuritas, global investors will still be looking at the potential for a new round of talks between the US and Iran.

"From economic data, investors will pay attention to US labor data and ISM services sector data," wrote Phintraco Sekuritas.

Meanwhile, from domestic, Phintraco Sekuritas said, a number of economic data will be released this week, namely the manufacturing PMI index, trade balance and inflation today. In addition, data on economic growth in the first quarter of 2026 will also be released on Tuesday, May 5 as well as foreign exchange reserves, property price index and car sales, Thursday, May 8.

Phintraco Sekuritas added, the realization of the 2026 State Budget until the end of March 2026 recorded a deficit of IDR 240.1 trillion or equivalent to 0.93 percent of GDP, widening from a deficit of 0.43 percent at the end of March 2025. This deficit is due to an increase in state spending by 31.4 percent to IDR 815 trillion and state revenues reaching IDR 574.9 trillion or 18.2 percent of the target.

Phintraco Sekuritas said investors will pay attention to the development of the realization of the 2026 State Budget in the midst of concerns about fiscal discipline and its impact on the economy. Meanwhile, technically, if the JCI this week is able to rebound above the 7,000 level, it is estimated to move in the range of 7,020-7,150.

"However, if the JCI today is still moving below the 7,000 level, it is estimated that it has the potential to test the level at 6,750-6,850," said Phintraco Securities.

Phintraco Sekuritas recommends six stocks this week, namely BUMI, AADI, MINA, LSIP, TINS and PGAS.