Positive Signals Emerge for JCI: Five Analyst-Picked Stock Recommendations with Profit Potential

Jakarta, VIVA — The Jakarta Composite Index (JCI) is projected to reverse course and test its nearest resistance level during the trading session on Monday, 23 February 2026. The JCI closed with a slim 0.03 per cent correction at the 8,271 level ahead of the weekend.

Binaartha Sekuritas analyst Ivan Rosanova noted that the JCI was still experiencing a downward trend on Friday, 20 February 2026, as indicated by daily movements below the SMA-20 line.

Ivan sees the potential for a further correction towards the support area at 8,071 should the JCI fall below 8,179. On the other hand, he also identifies a positive signal if the index does not drop below the Fibonacci support level of 8,179.

“The JCI could soon retest the 8,377 resistance level,” Ivan said, as quoted from his daily research note on Monday, 23 February 2026.

The JCI’s support levels sit at 8,179, 8,071, 7,809 and 7,617, whilst resistance levels are at 8,377, 8,596 and 8,837.

Furthermore, Ivan projects several issuers to deliver solid performance during today’s trading session. The following are stock recommendations with profit potential that are worth investors’ attention:

PT Alamtri Resources Indonesia Tbk (ADRO) - Recommendation: Take Profit - Target price: 2,360

PT Aneka Tambang Tbk (ANTM) - Recommendation: Buy on Weakness - Buying area: 3,900–4,000 - Target price: 4,410

PT Charoen Pokphand Indonesia Tbk (CPIN) - Recommendation: Buy on Weakness - Buying area: 4,000–4,150 - Target price: 4,590

PT Kalbe Farma Tbk (KLBF) - Recommendation: Speculative Buy - Buying area: 970–1,010 - Target price: 1,110

PT Merdeka Battery Materials Tbk (MBMA) - Recommendation: Trading Buy - Buying area: 800–840 - Target price: 1,120