Jakarta Composite Index JCI closed higher by 0.20% to the level of 5,924.36, after moving in the range of 5,887.84 – 5,949.99. The strengthening of the index was supported by positive sentiment from rising domestic demand, reflected in national car sales in June which grew 12% YoY, marking gains for three consecutive months and driving first-half 2026 sales up 15.9% YoY, indicating that public purchasing power is starting to improve. Even so, foreign investors still recorded a net sell of Rp421.70 billion (all market), bringing the cumulative year-to-date (YTD) net sell to Rp76,58 trillion. Foreign selling pressure primarily occurred in BBRI, BBCA, TLKM, DEWA, and ASII, while domestic investors accumulated BMRI, ADRO, BRMS, UNTR, and ELSA. In the foreign exchange market, the Rupiah weakened 0.35% to Rp18,065/US$ in the spot market. This movement ended the daily strengthening trend as domestic market focus fixed on the shadow of global uncertainty risks and the dynamics of capital outflows. Technically, JCI is still moving in a bearish trend, although it is beginning to show recovery efforts after successfully holding above the EMA10 (5,897). However, the index remains below the EMA20 (5,948) and EMA50 (6,293) as well as continuing to move within a downtrend channel, so an uptrend has not been confirmed. The RSI (14) is at 46.23, showing that momentum is beginning to improve but remains in the neutral area and has not yet entered the bullish zone. As long as JCI is able to hold above the 5,900 – 5,882 area, the opportunity to continue its technical rebound remains open with the target of testing 5,948 – 6,000 (EMA20 as well as psychological resistance), followed by 6,100 – 6,220 if it successfully breaks above the upper boundary of the channel. Conversely, if it falls back below 5,900, the index risks testing support at 5,839 – 5,805 again, before heading toward the gap area around 5,744. Confirmation of a trend change becoming more positive still requires a breakout above the EMA20 supported by an increase in transaction volume as well as continued foreign investor accumulation. ADVISE: Wait & see, accumulation buy. Stockpick: AKRA, BMRI, PNLF, PTBA.