Business · Markets · 4 hrs ago
Indonesia’s Composite Stock Index May Extend Gains, Analysts Say
Indonesia’s IHSG index closed up 0.79% at 5,096 on Monday after trading in Jakarta.
The index tracks shares listed on the Indonesia Stock Exchange.
Analysts expect it could rise further on Tuesday, though they differ on the levels to watch.
One analyst sees a possible climb to 5,456–5,564, but warns that a fall below 4,907 could send the index toward 4,763–4,845.
Another analyst sees a rebound after the index passed 5,123, but says a break below 4,972 could bring deeper losses, potentially below 4,800.
The analysts gave different support and resistance levels for Tuesday and named stocks they favor.
The next session will show whether the index can build on Monday’s gain or falls below key support levels.
Analysts said Indonesia’s Composite Stock Index could extend its gains on Tuesday, November 3.
Herditya Wicaksana said the index could rise toward 5,456–5,564, but warned it could fall if it breaks below 4,907.
Ivan Rosanova said the index showed potential to rebound after passing minor resistance at 5,123, while warning of further declines if it breaks below 4,972.
The index closed at 5,096 on Monday, up 39.78 points, or 0.79 percent.
- Who
- Analysts Herditya Wicaksana and Ivan Rosanova gave forecasts for Indonesia’s Composite Stock Index.
- What
- The index may extend its gains, but analysts warned of risks of a decline.
- When
- Tuesday, November 3, 2026; the index’s previous close was on Monday, November 2.
- Where
- Indonesia.
- Why
- Herditya cited the possibility of continued gains, while Rosanova said the index showed potential to rebound after passing minor resistance at 5,123.
This story does not have two clearly opposing sides.
The index closed at 5,096, up 39.78 points, or 0.79 percent.
Analysts forecast the index could strengthen, while warning of risks if it falls below key support levels.
- Previous close
- 5,096
- Daily gain
- 39.78 points, or 0.79 percent
- Herditya’s support levels
- 5,012 and 4,907
- Herditya’s resistance levels
- 5,328 and 5,460
- Rosanova’s support levels
- 4,972, 4,895 and 4,767
- Rosanova’s resistance levels
- 5,418, 5,561 and 5,716
1 source
What people are saying
In the best-case scenario, the IHSG is in wave (iv) of wave [v] and has the potential to rise toward 5,456–5,564. However, if it breaks below 4,907, the index could reverse and correct toward 4,763–4,845.
The potential for a downtrend still needs to be watched, especially if the IHSG breaks below the crucial support level of 4,972.