Correction Trend Not Over Yet! IHSG Projected to Plunge, Check Out 5 Top Analyst Stock Recommendations

The Jakarta Composite Index (IHSG) is projected to remain in a downward (bearish) trend during the early May 2026 trading session. The IHSG’s last position was at 6,956.80, impacted by a 2.03 per cent correction on Thursday, 30 April 2026.

Analyst Ivan Rosanova from Binaartha Sekuritas stated that the IHSG has confirmed the formation of subwave v in the main scenario after breaking below 6,942 last Thursday. He noted that a new bullish trend could emerge if the IHSG rises above 7,126.

“The target for subwave v at 6,727 could be reached if the IHSG breaks below the weekly support at 6,838,” Ivan explained in his daily research on Monday, 4 April 2026.

The IHSG support levels are at 6,838, 6,727, and 6,587. Meanwhile, resistance levels are at 7,126, 7,277, 7,403, and 7,582.

Ivan forecasts that several issuers will demonstrate solid performance in today’s trading session. Here are the recommended potential profit-making stocks for investors to consider.

PT Alamtri Minerals Indonesia Tbk (ADMR)

• Recommendation: Buy on Weakness

• Buy area: 1,690-1,750

• Target price: 1,950

PT Astra International Tbk (ASII)

• Recommendation: Buy on Weakness

• Buy area: 5,850-5,950

• Target price: 6,375

PT Bumi Resources Tbk (BUMI)

• Recommendation: Trading Buy

• Buy area: 226-232

• Target price: 266

PT Indah Kiat Pulp Paper Tbk (INKP)

• Recommendation: Trading Buy

• Buy area: 9,050-9,250

• Target price: 10,525

PT Medco Energi Internasional Tbk (MEDC)

• Recommendation: Trading Buy

• Buy area: 1,610-1,650

• Target price: 1,830