Business · Markets · 2 hrs ago
Analysts Split on Indonesia Stock Index Outlook for Monday
Indonesia’s Jakarta Composite Index, known as the IHSG, closed at 6,093 on Friday, up 1.04% from the previous session.
The index tracks shares listed on the Indonesian stock market.
Two analysts gave different forecasts for trading on Monday, October 12.
Herditya Wicaksana of MNC Sekuritas said the index could continue rising and test 6,227 to 6,231.
He also warned of a possible pullback, with a deeper decline possible if the index falls below 5,973.
Ivan Rosanova of Binaartha Sekuritas said the index could keep falling after it broke below 6,019, with possible support at 5,942 or 5,850.
He said that risk could ease if the index climbs above 6,179, so investors will be watching those levels in Monday’s trading.
Analysts offered differing forecasts for Indonesia’s Composite Stock Price Index (IHSG) ahead of Monday’s trading.
MNC Sekuritas analyst Herditya Wicaksana said the index could continue rising in the short term, while warning of possible corrections.
Binaartha Sekuritas analyst Ivan Rosanova said the index risked extending its decline after falling below 6,019.
The IHSG closed Friday at 6,093, up 1.04 percent from the previous session.
- Who
- Technical analysts Herditya Wicaksana of MNC Sekuritas and Ivan Rosanova of Binaartha Sekuritas.
- What
- They gave differing forecasts for the IHSG, with Herditya seeing potential for a short-term rise and Ivan warning of further declines.
- When
- Monday, October 12, 2026.
- Where
- Indonesia’s stock market.
- Why
- Their outlooks differed based on technical levels, including whether the index could rise above resistance or fall below support.
Herditya Wicaksana
Ivan Rosanova
Outlook
Herditya Wicaksana
Herditya said the IHSG could continue rising in the short term and test 6,227–6,231.
Ivan Rosanova
Ivan said the index risked extending its downward trend after breaking below 6,019.
Downside risk
Herditya Wicaksana
Herditya warned of a possible decline to 5,850–5,911 if the index broke below 5,973.
Ivan Rosanova
Ivan said a break below 6,019 opened the way to 5,942 or the 5,850 support level.
In the best-case scenario, the IHSG is expected to be in wave iv of wave c, giving it a chance to rise and test the 6,227–6,231 gap area.
A break below 6,019 opens the possibility of the IHSG weakening to at least 5,942 or testing Fibonacci support at 5,850.
The IHSG closed at 6,093, up 62.44 points, or 1.04 percent, from the previous session.
Herditya and Ivan forecast differing possible movements for the IHSG in Monday’s trading.
- Friday close
- 6,093
- Friday change
- Up 62.44 points, or 1.04 percent
- Herditya’s potential test area
- 6,227–6,231
- Herditya’s key downside trigger
- Below 5,973
- Ivan’s downside trigger
- Below 6,019
Sources
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