JCI Opens Higher with Potential for Rebound Despite Correction Risk at 7,150 Threshold

The Jakarta Composite Index opened higher by 32 points or 0.46% at the level of 6,988 during the opening of trading on Monday, 4 May 2026. Head of Retail Research at BNI Sekuritas, Fanny Suherman, predicts that the JCI has the potential for a rebound, although it remains susceptible to further corrections during today’s trading. “The JCI has the potential for a technical rebound to 7,000-7,050, but it is still vulnerable to continuing the correction as long as it has not succeeded in breaking above 7,150,” said Fanny in her daily research on Monday, 4 May 2026. She stated that stock exchanges in Australia and Japan rose on Friday last week, coinciding with Labour Day (May Day) on 1 May. This followed gains in the US stock market, Wall Street, which saw the S&P 500 and Nasdaq Composite strengthen and reach new highs. Japan’s Nikkei 225 index rose slightly by 0.38%, while the Topix increased moderately by 0.04%. Meanwhile, Australia’s S&P/ASX 200 index added 0.74%. “The JCI support is at the level of 6,850-6,900, while the resistance for the JCI is in the range of 7,000-7,050,” she said. For information, Wall Street closed mixed, with the S&P 500 and Nasdaq strengthening to record closing highs, driven by strong earnings and a decline in crude oil prices. On Friday last week, the Dow Jones Industrial Average fell 0.31%, the S&P 500 rose 0.29%, while the Nasdaq Composite increased by 0.89%. Meanwhile, economic data shows that US manufacturing activity increased in April, but the prices-paid component as an inflation predictor surged to a four-year high, according to the Institute for Supply Management. On the other hand, Apple shares rose 3.3% after the company provided solid sales forecasts, in line with strong demand for the iPhone 17 and MacBook Neo. Atlassian shares raised their annual forecasts, with the company’s stock surging 29.6%. Similar stocks, Salesforce and ServiceNow, rose 4.1% and 3.2%, respectively.