IHSG Expected to Strengthen, Analysts Recommend Top Stocks

The Jakarta Composite Index (IHSG) is expected to continue its positive trend in today’s trading session, Monday (February 24, 2025). Based on data from the Indonesia Stock Exchange (IDX), IHSG recorded a 2.48% increase during the February 17-21, 2025 period, closing at 6,803.001. The market capitalization also grew by 3.37%, reaching IDR 11,786 trillion, compared to IDR 11,401 trillion in the previous week.

Additionally, average daily trading volume increased 18.99%, from 15.45 billion shares to 18.38 billion shares.

Analysts from MNC Sekuritas believe that IHSG is still in wave B of wave (Y) in the black scenario, indicating potential for further gains.

“IHSG still has the opportunity to test levels between 6,908 and 7,148,” MNC Sekuritas stated in its research note on Monday (February 24, 2025).

The IHSG is projected to trade within a support range of 6,679 and 6,509, with resistance at 6,933 and 7,046.

MNC Sekuritas recommends that investors consider a buy on weakness strategy for PT Aneka Tambang Tbk. (ANTM) and PT Japfa Comfeed Indonesia Tbk. (JPFA), as well as speculative buy positions for PT Bukalapak.com Tbk. (BUKA) and PT Petrosea Tbk. (PTRO).

IHSG Faces Potential Weakening as Investors Await BPI Danantara Announcement

On the other hand, some analysts predict IHSG may face downward pressure in today’s trading session. The main sentiment stems from investors awaiting the official announcement of BPI Danantara’s formation by President Prabowo Subianto.

According to Phintraco Sekuritas, although IHSG remains in a minor bullish reversal phase, it continues to consolidate above 6,800 as of Friday (February 21, 2025).

“IHSG is expected to break out from its consolidation phase and test the psychological level of 6,900 this week,” Phintraco noted in its research report on Monday (February 24, 2025).

The index is projected to move within a resistance level of 6,750, with pivot and support areas at 6,550.

IHSG’s potential decline is also influenced by the sell-off in Wall Street at the end of last week, driven by concerns over U.S. economic growth prospects following the drop in Michigan Consumer Sentiment from 71.1 in January to 64.7 in February 2025.

Domestically, the lack of significant economic data could limit IHSG’s movement, with credit growth data being the primary macroeconomic indicator this week.

“Investors are expected to shift their focus toward dividend announcements, particularly from companies with a strong history of high dividend payouts,” Phintraco noted.

Meanwhile, CGS International also sees the potential for IHSG to remain under pressure at the start of the week. However, the launch of BPI Danantara is expected to act as a catalyst influencing market sentiment.

CGS International expects IHSG to move within a support range of 6,740 or 6,680, with resistance at 6,865 or 6,930.

Temukan berita dan artikel lainnya di Google News