The Indonesia Composite Index (IHSG) is expected to undergo a correction during Thursday’s trading session (June 11, 2026) after recording substantial gains over the previous two consecutive trading days.

On Wednesday (June 10, 2026), the IHSG successfully maintained its upward momentum throughout the session and closed 2.71% higher at 5,902.376. A day earlier, the index had already surged 7.57%, or approximately 404 points, to reach the 5,746.64 level.

MNC Sekuritas technical analyst Herditya Wicaksana believes that the strong rally seen over the last two trading days could encourage investors to lock in profits. As a result, the index may become vulnerable to short-term selling pressure.

From a technical perspective, the IHSG is projected to move within a support area of 5,849 and a resistance level of 5,964. In addition to technical factors, market movements are still being influenced by global sentiment, particularly the release of U.S. Consumer Price Index (CPI) and Producer Price Index (PPI) data scheduled for this week.

“We estimate that the IHSG remains susceptible to a correction, with support around 5,849 and resistance near 5,964. The main sentiment comes from potential profit-taking after two consecutive days of significant gains, while investors are also closely monitoring upcoming U.S. CPI and PPI data,” Herditya said in an interview with Kompas.com on Wednesday evening.

Herditya also highlighted several stocks that retail investors may consider monitoring on Thursday. These include PT Amman Mineral Internasional Tbk (AMMN), with a target price range of Rp3,780–Rp4,100; PT Sanurhasta Mitra Tbk (MINA), expected to trade between Rp328 and Rp362; and PT Solusi Sinergi Digital Tbk (WIFI), which is projected to move within the Rp1,735–Rp1,880 range.

IHSG May Trade Mixed

Meanwhile, Oktavianus Audi, VP of Equity Retail at Kiwoom Sekuritas, forecasts that the IHSG could continue to trade in a mixed pattern on Thursday, albeit with a tendency toward limited gains.

He expects the index to move within a support zone of 5,688 and a resistance level of 6,131. The possibility of further gains is supported by the Moving Average Convergence Divergence (MACD) indicator, which is showing signs of forming a golden cross pattern, a signal generally regarded as positive for market direction.

Audi noted that the strengthening of the rupiah against the U.S. dollar could also provide positive momentum for the domestic equity market. In the spot market, the rupiah closed stronger at Rp17,944 per U.S. dollar.

“Another supporting factor comes from the dividend distribution season, particularly from companies offering attractive dividend yields, such as UNVR at around 7% and AMRT at approximately 3%, based on closing prices as of June 10, 2026,” Audi explained.

Apart from currency movements and dividend-related sentiment, investors are also expected to continue monitoring foreign fund flows and global developments that may influence short-term market direction.

For trading strategies, Kiwoom Sekuritas recommends a speculative buy on PT Perusahaan Gas Negara Tbk (PGAS), with support around Rp1,400 and resistance at Rp1,685.

In addition, PT Abadi Nusantara Hijau Investama Tbk (PACK) is also recommended for a speculative buy strategy, with support at Rp226 and a resistance target of Rp280.

Disclaimer: This article is not intended as a recommendation to buy or sell any particular stock. All recommendations presented originate from securities analysts. Investment decisions remain the sole responsibility of each investor. Investors are encouraged to conduct their own research and analysis before making any investment decisions.