Jakarta Composite Index JCI closed down 1.69% at the 6,277.04 level on Tuesday (Sep 22). Foreign investors recorded a net sell of IDR 671.63 billion in the regular market, bringing the cumulative year-to-date net sell to IDR 102.50 trillion. Technically, JCI experienced another correction and closed below the 61.80% Fibonacci Retracement at 6,290.10. This condition indicates that bearish pressure is growing stronger in the short term, while signaling that JCI has been unable to maintain crucial Fibonacci support areas. The RSI (14) fell to 36.20, remaining below the 50 level and nearing oversold territory, reflecting dominant bearish momentum although the room for further downside is starting to look limited. If JCI fails to reclaim 6,290, corrective pressures could continue toward the 6,219 – 6,186 gap area and proceed to the 6.106 level as the next support. Conversely, in the event of a technical rebound, JCI needs to first recapture 6,290 – 6.377, then break through the 6.424 – 6.473 area which coincides with the EMA50, EMA10, and EMA20. The next resistance lies around 6,452 – 6.552. KIWOOM RESEARCH suggests investors adopt a wait-and-see stance while monitoring JCI's ability to form support in the 6,219 – 6,186 area and confirm a rebound above 6,290 – 6.377. Investors who have secured gains can implement trailing stops or gradual profit-taking, while selective accumulation buys should only be executed after a rebound confirmation and once JCI breaks back above nearest resistance. ADVISE: Wait & see; Set your trailing stop or gradual profit-taking, and selective accumulation buy. Stockpick: AMMN, ANTM, ISAT, RMKE.