Jakarta Composite Index JCI closed down 0.89% at the 6,130.59 level on Tuesday's trading (07/28), after moving in a range of 6,130.59 – 6,199.44. This decline came alongside foreign investor selling, which booked a net sell of Rp788.57 billion in the Regular Market and Rp1.07 trillion across all markets. Technically, JCI continued its bearish candle and closed right at the 38.20% Fibonacci retracement area (6,130), while also below the EMA10 (6,175) and slightly above the EMA20 (6,120). This condition indicates short-term momentum has weakened again after failing to sustain its previous strength. The RSI (14) fell to 50.7, reflecting continued weakening bullish momentum nearing neutral territory, opening the possibility of further correction should selling pressure continue. If the 38.20% Fibonacci level at 6,130 fails to hold, JCI could potentially continue weakening toward the 6,050 – 6,040 area, then test 5,987 and the 61.80% FR around 5,930 as the next support. Conversely, if it manages to hold above 6,130 and rebounds, JCI needs to break back through the EMA10 at 6,175, then 6,199 – 6,220 as the nearest resistance. KIWOOM RESEARCH advises investors to wait & see while monitoring JCI's movement around the 6,130 support area. Investors who have already profited are advised to apply a trailing stop or gradual profit-taking should JCI break through that level. ADVISE: Wait & see, set your trailing stop or gradual profit-taking. Stockpick: ADRO, SMRA, TPIA, UNVR.