TNews – Jakarta, October 18, 2023 – The Composite Stock Price Index (IHSG) in Indonesia is projected to experience a weakening trend in Wednesday’s trading session. This assessment comes from William Surya Wijaya, the CEO of Yugen Bertumbuh Sekuritas, a well-known figure in the securities market. Wijaya believes that the IHSG is currently undergoing a technical rebound after a period of reasonable consolidation. Nevertheless, he is confident that the index is likely to remain relatively flat during today’s trading session.
In a statement, William Surya Wijaya commented, “As we approach the release of economic data and with indications that the interest rate level is not expected to change, the IHSG is likely to continue reflecting the economic stability. This is anticipated to help boost the performance of the IHSG in the near future.”
Wijaya predicts that the stock index will move within a range of support at 6,789 and resistance at 6,978. He also shared his recommendations for selected stocks, which include SMGR, GGRM, JSMR, ITMG, TLKM, UNVR, BSDE, and SMRA.
In contrast, William Hartanto, a Market Practitioner and the Founder of WH-Project, is less optimistic about the IHSG’s prospects. He does not foresee any significant triggers that would propel the index to surge past the 7,000 level. According to Hartanto, the IHSG is more likely to weaken, fluctuating between 6,823 and 7,000.
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Hartanto explained his viewpoint, “Despite appearances, the recent strengthening of the IHSG was not accompanied by an increase in transaction values. In fact, the transaction values decreased in the previous trading session, which does not indicate that the IHSG’s movement towards 7,000 is secure.”
