Gotrade News - Indonesia's Jakarta Composite Index (IHSG) is projected to move sideways with potential for a rebound on Friday (17/04). The index closed marginally lower by 0.03% at 7,621.38 on Thursday with daily transaction value reaching Rp18.1 trillion.
Key Takeaways:
- IHSG projected in the 7,550-7,700 range with potential resistance test at 7,786-7,843
- MNC Sekuritas recommends BRMS with a target price of Rp940-1,025
- Positive Wall Street sentiment capped by overbought technical conditions on the IHSG
Phintraco Sekuritas expects the index to trade within 7,550-7,700 as overbought conditions trigger profit-taking. MNC Sekuritas analyst Herditya Wicaksana sees potential for a rebound toward the 7,786-7,843 resistance zone.
Support levels sit at 7,488 and 7,351 while the nearest resistance stands at 7,700 and 7,861. Wicaksana notes the index is moving through a corrective wave before a potential upward leg.
Pilarmas Investindo Sekuritas projects limited upside with trading confined to 7,500-7,850. Positive sentiment from Wall Street's record highs is offset by domestic technical pressure.
Stock Picks
MNC Sekuritas recommends BRMS (Bumi Resources Minerals) with an entry price of Rp815-835 and a target of Rp940-1,025. BBKP (Bank KB Indonesia) is also recommended at Rp63-65 entry with a Rp69-71 target.
Phintraco Sekuritas favors ICBP (Indofood CBP), NCKL (Trimegah Bangun Persada), and EMTK (Elang Mahkota Teknologi) as top picks. The rupiah closed relatively stable at Rp17,136 per US dollar on Thursday.
Sources:
- Kompas, IHSG Diproyeksi Sideways, ICBP NCKL hingga BRMS Jadi Saham Pilihan, 2026
- Katadata, IHSG Berpotensi Rebound, Analis Rekomendasikan Saham BRMS EMTK, 2026
- Liputan6, IHSG Berpeluang Naik, Cermati Rekomendasi Saham, 2026
