JAKARTA – The Composite Stock Price Index (IHSG) is projected to continue its upward trajectory, with analysts forecasting further strengthening in tomorrow’s trading session on Monday, October 13, 2025.
Herditya Wicaksana, an analyst from MNC Sekuritas, provided a technical perspective, noting that the IHSG is currently positioned within the `wave [v]` phase of `wave 5` (under the black label). This specific technical formation is widely regarded as a significant signal for sustained upward momentum in the index moving forward.
“The current position of the IHSG is estimated to be within `wave [v]` of `wave 5` on the black label. This indicates that the IHSG still holds the potential for further gains, targeting levels between 8,294 and 8,365,” Herditya elaborated in his research report, published on Sunday, October 12, 2025.
Herditya pinpointed key support levels for the IHSG at 8,217 and 8,166, while identifying resistance levels at 8,260 and 8,303. These technical benchmarks will be crucial for monitoring the index’s performance.
Amidst this optimistic outlook for the Indonesian stock market, Herditya has offered specific stock recommendations for investors ahead of Monday’s trading. His top picks include PT Blue Bird Tbk. (BIRD), PT Mayora Indah Tbk. (MYOR), PT Pertamina Geothermal Energy Tbk. (PGEO), and PT Pabrik Kertas Tjiwi Kimia Tbk. (TKIM).
Regarding transportation service provider BIRD, despite its shares experiencing a 3.06% increase in the last trading session, Herditya suggests that the buying volume remains dominant. Consequently, he recommends a buy on weakness strategy for BIRD shares within the Rp1,805–Rp1,835 range. The target prices are set at Rp1,865 and Rp1,895, with a recommended stop loss below Rp1,775 per share.
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Meanwhile, for confectionary giant Mayora Indah (MYOR), the analyst advises a speculative buy. MYOR, which recently corrected by 1.83% to Rp2,150, still faces some selling pressure. However, Herditya suggests initiating a spec buy at Rp2,120–Rp2,150, targeting Rp2,250 and Rp2,300, with a stop loss below Rp2,100 per share.
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Herditya emphasized, “As long as MYOR maintains its position above Rp2,100, which serves as its stop loss, MYOR’s current technical posture suggests it is nearing the end of `wave i` of `wave (iii)`.”
For geothermal energy company PGEO, a buy on weakness recommendation is issued for the Rp1,430–Rp1,450 area. Investors are encouraged to aim for target prices of Rp1,530 and Rp1,570, while setting a stop loss below Rp1,410 to manage potential risks.
Finally, for paper manufacturer TKIM (Pabrik Kertas Tjiwi Kimia Tbk.), the analyst advises a buy on weakness at levels between Rp7,075–Rp7,175. The target prices for TKIM are set at Rp7,425 and Rp7,575 per share, with a recommended stop loss below Rp7,000.
Herditya further elaborated on TKIM’s performance: “TKIM strengthened by 3.24% to Rp7,175, accompanied by a noticeable surge in buying volume. Its rally successfully breached the MA20 resistance level. We anticipate that TKIM’s current position is in the initial phase of `wave c` of `wave (b)`.”
This positive sentiment for the IHSG is underpinned by its strong performance throughout the week of October 6-10, 2025, where the index advanced by 1.72% to reach an impressive 8,257.85. This closing position marks an all-time high (ATH) for the benchmark index.
Kautsar Primadi Nurahmad, Corporate Secretary of the Indonesia Stock Exchange (BEI), confirmed the robust weekly gain, stating that the IHSG climbed 1.72% from its prior week’s close of 8,108.3. “The IHSG’s closing position this week also represents the highest record in its history,” Nurahmad affirmed in an official statement released on Saturday, October 11, 2025.
Summary
The Composite Stock Price Index (IHSG) is projected to strengthen further in Monday’s trading session, October 13, 2025. According to MNC Sekuritas analyst Herditya Wicaksana, the IHSG is positioned within `wave [v]` of `wave 5`, indicating potential for gains targeting 8,294 to 8,365. The index’s support levels are identified at 8,217 and 8,166, with resistance at 8,260 and 8,303. This optimistic outlook follows the IHSG’s record performance, closing at an all-time high of 8,257.85 after advancing 1.72% during the week of October 6-10, 2025.
Amidst this positive market sentiment, Herditya provided specific stock recommendations for investors. His top picks include PT Blue Bird Tbk. (BIRD), PT Mayora Indah Tbk. (MYOR), PT Pertamina Geothermal Energy Tbk. (PGEO), and PT Pabrik Kertas Tjiwi Kimia Tbk. (TKIM). Strategies such as `buy on weakness` for BIRD, PGEO, and TKIM, and a `speculative buy` for MYOR were suggested, complete with target prices and stop-loss levels for each.