Jakarta Composite Index JCI closed plunging 11.57% to the 5,185.10 level in Friday's (16/10/26) trading, amid heavy selling pressure from foreign investors, who recorded a net sell of Rp3.40 trillion in the regular market and Rp3.35 trillion across all markets. On a YTD basis, accumulated foreign net sell reached Rp114.16 trillion. Technically, JCI moved sharply lower and closed at the 5,185.10 level, trading well below the EMA10, EMA20, and EMA50, indicating the bearish trend remains strong. RSI (14) fell to the 16.85 level, indicating oversold conditions, which opens the possibility of a technical rebound. As long as it can break back through the 5,326 – 5,332 area, JCI has the chance of a rebound toward resistance at 5,631. However, if selling pressure continues and JCI breaks through support at 4,999, the index could potentially continue weakening toward the 4,471 area based on the 161.80% Fibonacci projection. Investors are advised to remain cautious, apply a selective buy on weakness strategy, and wait for confirmation of a trend reversal before accumulating more aggressively. ADVISE: Selective buy on weakness. Stockpick: BMRI, MEDC, PTBA, TLKM.