KABARBURSA.COM – The Indonesian stock market, measured by the Composite Index (IHSG), is forecast to continue its upward trend on Tuesday, February 24, 2026. However, analysts also caution about the potential for a near-term decline.
On Monday, February 23, 2026, the IHSG closed up 1.50 percent, or 124 points, at 8,396. MNC Sekuritas noted the gains were accompanied by increased buying volume and a sustained position above the 20-day moving average (MA20).
According to MNC Sekuritas, if the IHSG can hold above 8,170, it has the potential to continue its rally, forming part of wave (c) of wave [x] towards a range of 8,440 – 8,503. The index’s recent performance reflects broader investor optimism in the Indonesian market.
“However, be wary of the potential for a short-term correction to 8,257 – 8,343,” MNC Sekuritas wrote in a research note.
MNC Sekuritas identifies support levels for today’s trading between 8,170 and 8,025. Resistance zones are expected around 8,408 and 8,596.
MNC Sekuritas has highlighted four stocks for investors to watch today: ADRO, ASII, EXCL and GOTO. Details on each recommendation are below:
1. ADRO – Spec Buy
MNC Sekuritas believes ADRO is currently positioned within wave (iii) of wave [iii].
Spec Buy: 2,250 – 2,300
Target Price: 2,440 – 2,540
Stoploss: below 2,220
2. ASII – Buy on Weakness
MNC Sekuritas views ASII as currently forming part of wave 2 of wave (5).
Buy on Weakness: 6,375 – 6,525
Target Price: 6,850 – 7,150
Stoploss: below 6,175
3. EXCL – Buy on Weakness
Currently, EXCL is considered to be positioned within wave C of wave (B).
Buy on Weakness: 3,090 – 3,230
Target Price: 3,460 – 3,670
Stoploss: below 2,970
4. GOTO – Buy on Weakness
MNC Sekuritas anticipates GOTO is currently positioned in the early stages of wave (iii) of wave [iii].
Buy on Weakness: 60-62
Target Price: 67 – 71
Stoploss: below 58.
