Analyst: IHSG Loses Momentum, Could Slide to 7,140 Level

Jakarta – The Jakarta Composite Index (IHSG) is expected to continue its correction as the momentum of gains wanes. The IHSG closed sharply lower by 4.57% at 7,577.06 in the Wednesday trading session, 4 March 2026. Binaartha Sekuritas analyst, Ivan Rosanova, said that IHSG has lost positive momentum and has breached several supports. This condition was compounded by the formation of a bearish marubozu candle on Wednesday, 4 March 2026. ‘This position provides a continuation projection of wave (c) from [ii] toward 7,391 as the nearest target and could even reach 7,140,’ Ivan said in his daily research note, Thursday, 5 March 2026. The IHSG support levels are at 7,391, 7,140 and 6,991. Meanwhile, resistance levels are at 7,897, 8,246 and 8,527. Amid the sharp corrective trend, Ivan sees positive signals in a number of issuers. Here are five potentially profitable stock recommendations to watch for investors during today’s trading session: PT Vale Indonesia Tbk (INCO) - Recommendation: Speculative Buy - Buying area: 5,900–6,100 - Target price: 7,000 PT Indofood Sukses Makmur Tbk (INDF) - Recommendation: Speculative Buy - Buying area: 5,800–5,900 - Target price: 6,375 PT Merdeka Battery Materials Tbk (MBMA) - Recommendation: Speculative Buy - Buying area: 600–630 - Target price: 800 PT Merdeka Copper Gold Tbk (MDKA) - Recommendation: Hold - Target price: 3,800 PT United Tractors Tbk (UNTR) - Recommendation: Trading Buy - Buying area: 27,000–27,500 - Target price: 30,000