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February 26, 2025 | 12:40 pm
TEMPO.CO, Jakarta - Composite Stock Price Index (IHSG) in Tuesday's trading, February 26, 2025, moved mixed with a tendency for limited strengthening.
Kiwoom Sekuritas noted that in the first session, IHSG was estimated to move in the range of 6,580-6,665 (raised by 1 percent), after experiencing pressure from foreign selling actions in the previous trading session.
Head Customer Literation and Education of Kiwoom Sekuritas, Oktavianus Audi, revealed that foreign selling actions on February 25, 2025, amounted to Rp1.6 trillion.
"The pressure is still driven by foreigners who were noted to have conducted selling actions on February 25, 2025, amounting to Rp1.6 trillion, with the largest coming from state-owned enterprise (BUMN) issuers, such as: BBRI Rp663 billion, BMRI Rp328 billion, and TLKM Rp88 billion," said Audi when contacted on Wednesday, February 26, 2025.
However, amidst the limited movement of IHSG, stocks related to Pertamina still received negative sentiment due to the alleged fuel tampering case involving several top officials of the state-owned company's subholding.
One of the affected stocks is ELSA (Elnusa), which weakened by 1.45 percent in today's trading.
"After the release related to the corruption, Pertamina has given negative sentiment to the market regarding its relationship, such as ELSA at -1.45 percent," said Audi.
He assessed that the negative sentiment from the alleged corruption case of Pertamina still undermines investor confidence in energy-related and state-owned enterprise stocks, even though technically IHSG has the potential to end the trading session with limited strengthening.
On the other hand, some stocks recommended with a technical analysis approach include:
- BREN (Barito Renewables), recommended as a spec buy with support at 6,000 and resistance at 7,200.
- CARE (Metro Healthcare), recommended as a trading buy with support at 210 and resistance at 250.
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