Flooring Guide by Cinvex JAKARTA – The Composite Stock Price Index (IHSG) is expected to trade within a limited range this Thursday, May 7, 2026. Despite the cautious outlook, market analysts suggest that several stocks, including ESSA, ENRG, and KOTA, retain sufficient momentum to outperform.
Reza Diofanda, an analyst at BRI Danareksa Sekuritas, projects that the IHSG’s movement will likely be restrained. This outlook is based on technical indicators showing the index approaching resistance levels following its rebound during the previous trading session.
“The support level is situated between 6,920 and 7,000, while resistance is pegged at the 7,100 to 7,160 range. Investors are advised to remain vigilant regarding geopolitical developments and currency fluctuations, particularly as the market anticipates the release of foreign exchange reserve data at the end of this week,” Diofanda stated in his daily research note.
In Wednesday’s session, the IHSG closed 0.50% higher at 7,092, even as foreign investors recorded a net sell of Rp484 billion in the regular market. The index’s resilience was primarily driven by national economic growth data that surpassed market expectations.
Stock Recommendations and Market Outlook
For today’s trading, analysts have issued several recommendations. Investors are eyeing PT ESSA Industries Indonesia Tbk. (ESSA) with a price target of Rp955–Rp995 and a stop loss set below Rp925. Additionally, PT Energi Mega Persada Tbk. (ENRG) is recommended with a target price range of Rp1,895–Rp2,120 and a stop loss below Rp1,650, while PT DMS Propertindo Tbk. (KOTA) is targeted between Rp167 and Rp176 with a stop loss below Rp150.
Conversely, analysts suggest a “sell” rating for PT Medikaloka Hermina Tbk. (HEAL), setting a price target of Rp985. The bearish trend for HEAL remains persistent, accompanied by a significant increase in trading volume, signaling further potential downward pressure.
Market Recap: Wednesday, May 6, 2026
The IHSG concluded Wednesday’s session at 7,092.46, buoyed by the strong performance of big-cap stocks such as UNVR, TPIA, and DCII. According to Indonesia Stock Exchange (IDX) data, the index rose by 0.50% or 35.36 points. Having opened at 7,086.34, the index climbed steadily throughout the day, reaching an intraday peak of 7,127.72.
Market breadth remained active, with 341 stocks advancing, 290 declining, and 186 remaining unchanged, bringing the total market capitalization to Rp12,728 trillion. Leading the gainers were PT Unilever Indonesia Tbk. (UNVR), which surged 10.06% to Rp1,805, and PT Chandra Asri Pacific Tbk. (TPIA), which climbed 4.94% to Rp6,375 per share.
On the downside, PT Amman Mineral Internasional Tbk. (AMMN) fell 3.38% to Rp5,000 per share, while PT Bank Negara Indonesia (Persero) Tbk. (BBNI) dipped 2.30% to finish at Rp3,830 per share.
Disclaimer: This news article is for informational purposes only and does not constitute a recommendation to buy or sell any stocks. All investment decisions remain the sole responsibility of the reader. Bisnis.com is not liable for any losses or gains arising from investment decisions made based on this information.
Summary
The Composite Stock Price Index (IHSG) is projected to trade within a limited range on Thursday, May 7, 2026, with analysts anticipating restrained movement as the index approaches resistance levels. Support is identified between 6,920 and 7,000, while resistance is pegged at 7,100-7,160, with investors advised to monitor geopolitical and currency fluctuations. On Wednesday, the IHSG closed 0.50% higher at 7,092, despite foreign net sells, primarily driven by stronger-than-expected national economic growth data.
For Thursday’s trading, analysts recommend several stocks, including ESSA (target Rp955–Rp995), ENRG (target Rp1,895–Rp2,120), and KOTA (target Rp167–Rp176), noting their potential to outperform. Conversely, PT Medikaloka Hermina Tbk. (HEAL) received a “sell” rating with a target price of Rp985, attributed to its persistent bearish trend and increased trading volume.