JAKARTA — The Jakarta Composite Index (JCI) faces continued downside risk in today’s trading session, Tuesday, May 12, 2026, with analysts projecting a potential correction toward the 6,645–6,838 range. Investors are keeping a close watch on several key stocks, including ANTM, KLBF, MDKA, and PTRO, amid the current market volatility.
Research analysts at MNC Sekuritas noted that the JCI fell by 0.92% to close at 6,905 on Monday (May 11, 2026). The trading session was characterized by significant selling pressure, with the index notably breaching critical support levels. Technical projections suggest that the JCI’s movement is currently part of wave [v] of wave A of wave (2).
Related: CIO of Danantara Shares Perspective on JCI Weakness Ahead of MSCI Announcement
In their daily research report released on Monday, the MNC Sekuritas team highlighted the potential for further decline. “In the worst-case scenario, the JCI is vulnerable to a correction toward the 6,645–6,838 range. Even if a rebound occurs, it appears likely that the index will retest the 6,972–7,012 resistance level,” the analysts stated.
For today’s trading, support levels for the JCI are pegged at 6,838 and 6,745, while resistance is expected to range between 7,069 and 7,207.
Related: Stock Recommendations and JCI Market Outlook for Monday, May 11, 2026
Based on their technical analysis, MNC Sekuritas has identified the following stock recommendations:
ANTM – Buy on Weakness
ANTM rose 1.93% to 3,700, supported by an increase in buying volume. Analysts believe the stock is currently entering the early stage of wave C of wave (C).
- Buy on Weakness: 3,640–3,700
- Target Price: 3,890, 4,110
- Stoploss: Below 3,530
KLBF – Trading Buy
KLBF corrected by 3.26% to 890 amid heavy selling pressure, pulling the stock below its MA20. The current position is estimated to be part of wave 4 of wave (C) of wave [Y].
- Trading Buy: 870–880
- Target Price: 970, 1,010
- Stoploss: Below 850
MDKA – Buy on Weakness
MDKA gained 3.24% to reach 2,870, accompanied by a surge in buying volume. The stock is projected to be in the middle of wave (c) of wave [iii] of wave C.
- Buy on Weakness: 2,500–2,730
- Target Price: 2,980, 3,100
- Stoploss: Below 2,450
PTRO – Buy on Weakness
PTRO declined by 2.57% to 4,920. While selling pressure remains, trading volume has begun to taper off, suggesting the stock may be nearing the end of wave (B) of wave [B].
- Buy on Weakness: 4,530–4,850
- Target Price: 5,575, 6,675
- Stoploss: Below 4,130
Related: JCI Closes Lower at 6,905.62; BMRI, CUAN, and ESSA Face Selling Pressure
Disclaimer: This article is for informational purposes only and does not constitute a recommendation to buy or sell any specific securities. Investment decisions remain the sole responsibility of the reader. Bisnis.com is not liable for any losses or gains arising from the use of this information.
Summary
The Jakarta Composite Index (JCI) is facing continued downside risk, with analysts from MNC Sekuritas projecting a potential correction toward the 6,645–6,838 range following a 0.92% decline to 6,905 on Monday. Technical analysis suggests the index is currently in a corrective phase, with immediate support levels identified at 6,838 and 6,745. Even in the event of a rebound, the index is expected to face resistance between 6,972 and 7,012.
Amid this market volatility, analysts have issued “Buy on Weakness” recommendations for ANTM, MDKA, and PTRO, while suggesting a “Trading Buy” for KLBF. Investors are advised to monitor these stocks closely as the market navigates the current downward trend. As always, market participants should conduct their own research and exercise caution, as these technical projections serve as informational guidance rather than guaranteed investment advice.
