The Jakarta Composite Index (IHSG) is expected to still have room for further gains in Friday’s trading (December 5, 2025). On Thursday (December 4, 2025), the index closed up 0.33% at a new all-time high of 8,640 despite foreign investors recording net selling of Rp192 billion. Reza Diofanda, an analyst at BRI Danareksa Sekuritas, sees the IHSG potentially moving toward 8.655 with support at 8.610.

“Supportive global conditions driven by expectations of a possible Fed rate cut, combined with domestic sentiment ahead of the foreign exchange reserves data release, will provide additional momentum,” Reza said in a daily research report on Friday (December 5, 2025).

BRI Danareksa Sekuritas named ASII as one of its top picks, setting a target price of Rp6.925–Rp7.125 per share. In the previous session, ASII broke above the Rp6.625 resistance level. If it can stay above that threshold, the stock may continue rising toward the next resistance. The recommendation is to buy at Rp6.650–Rp6.725 with a stop loss below Rp6.600.

For SSIA, the firm recommends buying within the Rp1.800–Rp1.900 range, expecting an upward move toward Rp2.040–Rp2.120 with a stop loss at Rp1.750. “SSIA is currently trading above resistance with increasing volume. The price appears capable of pulling back and aiming for the nearest resistance,” Reza noted.

HUMI is also recommended as a buy at Rp230–Rp234. On the one-hour chart, the stock has broken through the Rp228 resistance. Its upward momentum is projected to continue toward Rp238–Rp252 with a stop loss at Rp220.

Conversely, BRI Danareksa Sekuritas issued a sell call on Japfa Comfeed Indonesia (JPFA) because it has been unable to break through a key resistance zone at Rp2.710–Rp2.780. “Be cautious of a potential correction, with immediate support at Rp2.490,” Reza concluded.