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February 27, 2025 | 06:19 pm
TEMPO.CO, Jakarta - The IDX Composite (IHSG) remained below the 6,600 mark, closing today's trading session with a 2.23 percent dip to 6,458.3.
Oktavianus Audi, the Head of Customer Literacy and Education Analysis at Kiwoom Sekuritas Indonesia, attributed the decline to strong selling pressure from foreign investors, with a net sell of Rp324 billion following the launch of Danantara.
"The pressure in the market by foreigners is still quite intense, with a net sell of Rp324 billion in the entire trading session, with banking stocks being the most unloaded, such as BBCA Rp433 billion, BMRI Rp157 billion, and BBRI Rp32 billion," Audi told Tempo on Thursday, February 27, 2025.
Technically, the Relative Strength Index (RSI) indicator showed a decrease in line with the Moving Average Convergence Divergence (MACD), indicating a weakening trend in the IHSG. "IHSG is once again stuck below the resistance level of 6,600," he added.
On the other hand, AKRA shares recorded a significant increase of 9.96 percent at 10:56 AM Western Indonesian Time (WIB). This was triggered by market speculation regarding the delayed listing of Pertamina's shares.
"We see the impact on competitors, such as AKRA, which strengthened by 9.96 percent. This is caused by market speculation about the potential shift of consumers from PT Pertamina (Persero), so the market took advantage of the momentum towards AKR's stock prices," he explained.
Selected Stocks with Technical Analysis:
- BRMS (Speculative Buy) Support: 376 Resistance: 430
- AKRA (Trading Buy) Support: 1,230 Resistance: 1,420
Editor's Choice: IHSG Slightly Up as Pertamina Stocks Hit by Corruption Case Sentiment
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