Stock Recommendations Today: ADRO, MEDC, PGAS & SMGR, IHSG Forecast Positive
Ciptadana Securities’ technical research team recommends PT Alamtri Resources Indonesia Tbk (ADRO), PT Medco Energi Internasional Tbk (MEDC), PT Perusahaan Gas Negara Tbk (PGAS), and PT Semen Indonesia Tbk (SMGR) as preferred stocks for short-term trading on 11 March 2026. The Indonesian Composite Index (IHSG) is forecast to move positively.
ADRO: Rebound Opportunity
ADRO rose 1.28% and closed at Rp2,380 on 10 March. Previously, ADRO tested resistance at Rp2,530 and is currently consolidating in the Rp2,280–2,380 range. This healthy correction within an ongoing uptrend indicates technical strength.
As long as the price holds above the Rp2,280 support level, the uptrend structure remains intact with potential to retest resistance around Rp2,500–2,530.
Recommendation: Speculative buy ADRO at Rp2,380, stop loss Rp2,300, profit target Rp2,500.
MEDC: Rebound Opportunity
MEDC rose 1.72% and closed at Rp1,725 on 10 March. MEDC remains in a medium-term uptrend following the formation of a strong base around Rp1,100–1,290 and successful breakthrough of several resistance levels.
Price gains accelerated in early 2026, reaching a recent peak near Rp1,995, which represents important resistance. Following this sharp rally, the stock is now correcting towards the Rp1,725–1,750 support area, previously a breakout level. This correction appears normal within the broader uptrend.
Recommendation: Speculative buy at Rp1,725, stop loss Rp1,590, profit target Rp1,895.
PGAS: Testing Support Level
PGAS fell 3.9% and closed at Rp1,970 on 10 March. The Rp1,845–1,800 area is now an important support zone.
As long as the price holds above this range, the larger uptrend is considered intact, with the stock potentially stabilising before attempting to rise again. Above, the Rp2,200–2,300 area represents the nearest resistance that must be overcome for upward momentum to recover.
The stochastic indicator is currently declining towards oversold territory, indicating short-term selling pressure remains strong but also opens potential for technical rebound if selling pressure eases.
Recommendation: Buy on weakness at Rp1,890, stop loss Rp1,790, profit target Rp2,100.
SMGR: Rebound Opportunity
SMGR rose 5.16% and closed at Rp2,650 on 10 March. SMGR is currently moving sideways after previously attempting to rise to a peak near Rp3,260.
However, the stock failed to sustain above resistance at Rp2,860, triggering a sharp correction to the Rp2,450 support area. Recently, price bounced from the Rp2,450 level, indicating buyers are defending this support.
Recommendation: Speculative buy at Rp2,650, stop loss Rp2,510, profit target Rp2,860.
Market Highlights
The IHSG rose 1.41% to 7,441, driven by gains across nearly all sectors, although foreign investors recorded net selling of Rp2.6 trillion on 10 March 2026.
Sectors showing strongest gains were:
Basic Materials 4.42%
Industrials 2.86%
Consumer Cyclicals 2.58%
The Technology sector was the only sector showing slight weakness at 0.04%.
Major stocks driving index movement included:
BRMS up 13.25% to Rp855
BBCA up 1.45% to Rp6,975
BMRI up 1.87% to Rp4,910
The rupiah strengthened 84 points to Rp16,861 per US dollar.
Technically, IHSG is forecast to move within the range of 7,370 (support) to 7,585 (resistance), with consolidation likely but expected to remain in positive territory on 11 March 2026.
Conclusion
IHSG is estimated to move positively with short-term trading opportunities in selected stocks. ADRO and MEDC are considered to remain in uptrends with rebound potential following healthy corrections. PGAS is testing important support levels that open technical rebound opportunities, whilst SMGR shows potential to continue its bounce after holding support. Investors may consider speculative buy strategies with discipline at defined stop loss levels.