February 18, 2026 | 09:48 am
TEMPO.CO, Jakarta - Equity Analyst at PT Indo Premier Sekuritas (IPOT), Hari Rachmansyah, predicts that the Jakarta Composite Index (JCI) will test the resistance level of 8,300 with a support level of 8,129 during the period of February 18-20, 2026. He stated that the JCI's movement this week will be influenced, among other things, by the announcement of the benchmark interest rate, or BI Rate, by Bank Indonesia.
"Interest rate policy sentiment is also an important factor because it has the potential to drive the banking and property sectors, along with expectations of liquidity stability and credit demand," Hari said in a press release, quoted on Wednesday, February 18, 2026.
Bank Indonesia is scheduled to hold a Board of Governors Meeting on February 18-19, 2026. Another factor is fundamental sentiment from the release of the 2025 annual financial report, which generally provides a positive catalyst, especially for issuers with solid profit growth and maintained margins.
On the other hand, Hari said, investors still need to monitor developments on the Indonesia Stock Exchange reforms, which are progressing quite constructively and can strengthen market confidence in the medium term. According to him, as long as the 8,300 resistance level remains intact, the JCI will likely move sideways with limited volatility.
Last week, the JCI strengthened 3.49 percent and closed at 8,212.27 on Friday, February 13, 2026. According to Hari, this strengthening signaled an early recovery following the Morgan Stanley Capital International (MSCI) issue, although external pressures still loomed.
Hari stated that the JCI's strengthening last week was supported by conglomerate stocks such as BUMI, RATU, and BUVA. Meanwhile, there was significant foreign selling pressure on BBCA, with outflows reaching Rp3.8 trillion in the past week, resulting in a -6.19 percent correction.
Read: Weekly Stock Market: JCI Strengthens, Foreign Capital Outflow Reaches Rp2 Trillion
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