Jakarta Composite Index JCI closed up 0.80% at the 6,236.13 level on Friday's trading (07/31), also recording a 10.51% gain throughout July. Throughout the session, JCI moved in a range of 6,201.89 – 6,236.62. Despite the index's gain, foreign investors still booked a net sell of Rp34.82 billion in the Regular Market and Rp250.53 billion across all markets, indicating the market's strength was mostly supported by domestic investor buying. Technically, JCI continued its bullish candle and managed to close back above the EMA10 (6,177), EMA20 (6,135), and EMA50 (6,244), which is now very close to being tested, indicating short-term strengthening momentum is starting to improve after successfully holding the 38.20% Fibonacci Retracement support area. The movement pattern also continues to form a higher low above the ascending trendline, keeping the chance of a continued rebound open. The RSI (14) rose to 56.12, indicating bullish momentum is strengthening again and still has room to continue rising. As long as JCI can hold above 6,200 – 6,180, it has room to continue strengthening toward 6,244 as the nearest resistance, and if it breaks out, the strengthening could potentially continue toward 6,315 (closing the gap area) up to 6,377. Conversely, if it falls back below 6,180, JCI risks testing support at 6,177 down to 6,135. KIWOOM RESEARCH advises traders to consider a buy on breakout if JCI manages to break through 6,244 with rising volume. Meanwhile, investors who already hold positions can hold or average up on stocks that remain above the support area, applying a trailing stop around the 6,180 level. ADVISE: Buy on breakout; Hold, average up or set your trailing stop. Stockpick: ADMR, BRPT, PSAB, TPIA.