Business · Markets · 3 hrs ago
Indonesia’s IHSG Seen Moving Sideways, With Gains and Further Falls Possible
Indonesia’s IHSG is expected to move mostly sideways on Monday, though analysts say it could rise or fall further.
The index tracks shares listed on the Indonesian stock market.
It closed Friday at 5,057, down 0.80%, with more shares falling than rising.
MNC Sekuritas analyst Herditya Wicaksana sees a possible rise to 5,456–5,564 in one scenario, but a deeper fall to 4,763–4,845 in another.
Binaartha Sekuritas analyst Ivan Rosanova says a break above 5,123 could open the way to 5,300, while a drop below 4,972 could extend losses.
The conflicting forecasts show that the market’s next move remains uncertain for investors.
The analysts’ levels are forecasts for Monday’s trading, and no later market outcome is given.
Indonesia’s IHSG was expected to trade sideways on Monday, November 2, with analysts saying gains or further declines were possible.
MNC Sekuritas analyst Herditya Wicaksana outlined a best-case rise to 5,456–5,564 and a worst-case fall to 4,763–4,845.
Binaartha Sekuritas analyst Ivan Rosanova said a break above 5,123 could open the way to 5,300, while a drop below 4,972 could extend the correction.
The index closed at 5,057 on Friday, October 30, down 41 points, or 0.80 percent.
- Who
- Indonesia’s IHSG, with analysts Herditya Wicaksana and Ivan Rosanova providing forecasts.
- What
- The index was expected to move sideways, with potential gains and further declines.
- When
- Monday, November 2. The previous close was on Friday, October 30.
- Where
- Indonesia.
- Why
- Analysts cited possible rebound levels and risks of a continued correction.
This story does not have two clearly opposing sides.
The IHSG closed at 5,057, down 41 points or 0.80 percent.
Analysts expected the IHSG to trade sideways, with both gains and further declines possible.
- Friday close
- 5,057
- Daily change
- Down 41 points, or 0.80 percent
- Herditya’s best-case target
- 5,456–5,564
- Herditya’s worst-case target
- 4,763–4,845
- Ivan’s rebound threshold
- Above 5,123, with a potential move to 5,300
What people are saying
In the best-case scenario, the IHSG is in wave (iv) of wave [v] and has the opportunity to strengthen toward 5,456-5,564. However, in the worst-case scenario, the index could continue its correction toward 4,763-4,845.
A break above 5,123 will open the opportunity for the IHSG to strengthen toward 5,300. Conversely, if it falls back below 4,972, the correction scenario could continue.