Caution! IHSG Could Still Decline After a Rapid Rebound; Here Are Five Analyst-Selected Stock Picks

The Jakarta Composite Index (IHSG) rose 1.76% to 7,710.53 at the close on Wednesday, 5 March 2026, after narrowing the steep decline seen recently. Analyst Ivan Rosanova of Binaartha Sekuritas said the domestic index’s downturn has not yet been confirmed as over, and he projects the IHSG could test a minimum target based on Fibonacci projections, at 7,391. He added that the wave [ii] should end near the Fibonacci support at around 7,140. The IHSG’s support levels lie at 7,391, 7,140 and 6,991, while resistance sits at 7,897, 8,246 and 8,527. Rosanova also forecast several stocks with solid performance in today’s trading session and identified five potentially profitable picks for investors to watch.