Jakarta Composite Index JCI closed lower by 0.09% to the level of 6,334.48. Throughout Wednesday's trading (22/07), JCI moved in the range of 6,284.88 – 6,394.69. Technically, JCI is still moving in a bullish trend after breaking out above the 6,377 resistance and has not been able to hold above that level. Nevertheless, the index position remains above the EMA10, EMA20, and EMA50, so the medium-term uptrend remains intact. The RSI (14) is at 62.69, reflecting still strong bullish momentum, although room for an increase is starting to become more limited as it approaches the overbought area. As long as JCI is able to hold above the support area of 6,284 – 6,260 (EMA50), the opportunity to continue strengthening remains open to test resistance at 6,377 again. If it is able to breakout and hold above that level, the strengthening has the potential to continue toward 6,398 – 6,459. Conversely, if it fails to break resistance again, JCI has the potential to experience a healthy pullback with the nearest support at 6,284 – 6,260 (EMA50), followed by 6,231. KIWOOM RESEARCH suggests investors take gradual profit taking as long as JCI has not been able to breakout above 6,377, with a trailing stop in the EMA50 area (6,260). ADVISE: Set your trailing stop or average up. Stockpick: BREN, PGEO, PTBA, SCMA.