Jakarta Composite Index JCI closed up 1.69% at the 6,373.85 level on Wednesday's trading (08/12), moving in a range of 6,272.30 – 6,373.85. Foreign investors recorded a net buy of Rp482.79 billion in the Regular Market and Rp725.40 billion across all markets. Technically, JCI formed a bullish marubozu and closed higher at 6,373.85, once again testing the 6,377 resistance area after managing to hold above the EMA10 (6,308), EMA20 (6,247), and EMA50 (6,269). This condition indicates short-term bullish momentum is strengthening again with the higher low structure still intact. The RSI (14) at 59.19 indicates there is still room for gains and has not yet entered overbought territory. As long as JCI can hold above 6,308 – 6,269, the chance of a breakout above 6,377 remains open, with a strengthening target toward 6,462 up to 6,550, while the next major resistance is around 6,635 / 6,723. Conversely, should it fail again to break through 6,377 and fall below 6,308, JCI could potentially test 6,269, then 6,247 as the main support area. KIWOOM RESEARCH advises a buy on breakout above 6,377 or accumulate on weakness as long as JCI holds above 6,269, with a trailing stop should it close below 6,247. ADVISE: Buy on break or accumulate on weakness and set your trailing stop. Stockpick: ELSA, ENRG, EXCL, JPFA.