The Composite Stock Price Index (IHSG) is projected to weaken on Monday, March 30, following the recent Eid holiday and subsequent return travel period. The index recorded a correction of 0.94 percent, closing at 7,097 on Friday, March 27.
According to analysts at MNC Sekuritas, the IHSG’s current position is seen as part of wave (v) of wave [c] of wave A on the black label. This technical analysis suggests the IHSG remains susceptible to further correction, potentially retreating to the 6,745-6,887 range.
However, MNC Sekuritas also identifies an alternative scenario where the IHSG may have already completed wave A on the blue label. Should this prove true, the index could embark on a rally, targeting a range of 7,450-7,779, as stated in their research report on Monday, March 30.
For investors navigating this anticipated trading day, MNC Sekuritas has highlighted several stocks for close attention: CUAN, DSNG, UNTR, and AMRT.
Meanwhile, analysts at Phintraco Sekuritas attribute the IHSG’s weakening performance on Friday, March 27, which marked its fifth consecutive week of correction, to the resurgence in crude oil prices. This surge comes amidst heightened skepticism surrounding potential negotiations to resolve the conflict between the United States and Iran.
Globally, the US technology stock index, Nasdaq Composite, has entered correction territory, having fallen more than 10 percent from its peak. Concurrently, international oil prices have sharply climbed. Brent crude gained 4.22 percent, reaching USD 112 per barrel, while West Texas Intermediate (WTI) rose 5.46 percent to USD 99 per barrel on March 27, 2026. Both benchmarks recorded their highest closing levels since July 2022.
Phintraco Sekuritas analysts point to the persistent uncertainty surrounding US-Iran negotiations as the primary driver behind the escalating oil prices. Despite Iran’s temporary allowance for some ships to transit the Strait of Hormuz, geopolitical tensions in the region have shown no signs of abating.
Further exacerbating concerns, US President Donald Trump extended the deadline for a potential attack plan against Iran until April 6, 2026. Simultaneously, reports of the deployment of an additional 10,000 US troops have fueled worries that the conflict could be prolonged.
Adding to the global geopolitical instability, escalations have also emerged from other regions, notably with Houthi rebels in Yemen launching attacks against Israel. This situation significantly amplifies the risk of a protracted war in Iran and the broader Middle East.
Should these conflicts continue to expand and endure, they pose a substantial threat to global economic growth, potentially triggering stagflation—a challenging combination of high inflation and an economic slowdown.
Domestically, market participants are keenly awaiting the release of several key economic data points on Wednesday, April 1. These include the S&P Global manufacturing index, trade balance figures, and inflation rates.
Furthermore, the Indonesia Stock Exchange (IDX) has announced plans to revise its special monitoring board regulations during the second quarter of 2026.
“Ahead of the long weekend and the US attack deadline, investors are expected to adopt a cautious stance, especially if no positive developments emerge this week. The IHSG is consequently anticipated to retest the 6,800-7,000 levels,” Phintraco Sekuritas analysts stated in their research on Monday, March 30.
For the coming week, stocks that merit particular attention include MEDC, ENRG, PTRO, ANTM, and CUAN.
Disclaimer: Investment decisions are entirely based on the reader’s considerations and judgment. This news article does not constitute an invitation to buy, hold, or sell any specific investment product.