Will the JCI Rebound Today? Check Out Analyst Recommendations

JAKARTA, KOMPAS.com - The Composite Stock Price Index (JCI) is forecast to strengthen modestly in Wednesday’s trading (29 April 2026), driven by a technical rebound after what is considered a sufficiently deep correction over the past few days.

Technical analyst from MNC Sekuritas, Herditya Wicaksana, predicts that the JCI’s support level tomorrow will be at 7,022 and resistance at 7,106.

“For tomorrow (Wednesday), we forecast the JCI has a chance to strengthen modestly with support at 7,022 and resistance at 7,106, where we anticipate a technical rebound opportunity amid a correction that can be described as sufficiently deep,” said Herditya when contacted by Kompas.com on Tuesday evening (28 April 2026).

The index weakened by 34.128 points or 0.48 per cent to 7,072.393.

Analyst from BRI Danareksa Sekuritas, Reza Diofanda, assesses that the JCI’s decline was mainly triggered by net selling by foreign investors amounting to Rp 1.24 trillion, with the greatest pressure on banking sector stocks.

According to him, the market’s weakening is also inseparable from rising global uncertainties, particularly related to the conflict in the Middle East.

Market participants are still monitoring developments on Iran’s proposal to the United States regarding the opening of the Strait of Hormuz, which so far has shown no clarity on policy direction.

This situation is keeping oil prices at high levels, with West Texas Intermediate (WTI) crude oil holding around US$100 per barrel and Brent crude oil at US$110 per barrel, thereby increasing concerns about global inflationary pressures.

He also predicts that the JCI will continue to move in a limited range, as market participants await certainty on the Federal Reserve’s (The Fed) monetary policy direction.