JCI Predicted to Accelerate Amid Market Caution Over US Supreme Court Ruling
Jakarta, VIVA – The Jakarta Composite Index (JCI) is expected to continue strengthening during the trading session on Tuesday, 24 February 2026. The JCI recorded a sharp jump at the start of the week, rising 1.50 per cent to close at the 8,396.08 level.
Binaartha Sekuritas analyst Ivan Rosanova said the positive momentum on the domestic index remains very strong provided the JCI stays above the 8,324 level. He forecast that the JCI would rally to test its nearest resistance point.
“The JCI is expected to continue its climb towards the nearest target based on Fibonacci projection at the 8,482 level,” Ivan said in his daily research note cited on Tuesday, 24 February 2026.
Senior Market Analyst at PT Mirae Asset Sekuritas, M. Nafan Aji Gusta, said the application of zero per cent tariffs on specific products under the Indonesia–United States trade agreement is one source of fresh optimism for the JCI. However, market participants are expected to become more selective due to the impact of a US Supreme Court ruling.
“Meanwhile, Ramadan entering the last week of February should provide positive sentiment for the market by capitalising on the early momentum of a surge in household spending,” he added.
The JCI’s support levels sit at 8,324, 8,071 and 7,809, while resistance levels are at 8,482, 8,596 and 8,837.
Furthermore, Ivan identified a number of issuers projected to perform well in today’s trading. The following are potential stock recommendations worth monitoring for investors:
PT Vale Indonesia Tbk (INCO) – Recommendation: Trading Buy – Buy area: 6,500–6,800 – Price target: 7,450
PT Indofood Sukses Makmur Tbk (INDF) – Recommendation: Accumulative Buy – Buy area: 6,500–6,600 – Price target: 7,000
PT Japfa Comfeed Indonesia Tbk (JPFA) – Recommendation: Trading Buy – Buy area: 2,200–2,270 – Price target: 2,540
PT Medco Energi Internasional Tbk (MEDC) – Recommendation: Trading Buy – Buy area: 1,550–1,650 – Price target: 1,955
PT Perusahaan Gas Negara Tbk (PGAS) – Recommendation: Trading Buy – Buy area: 2,170–2,220 – Price target: 2,310