IHSG Rebounds to Green Zone After Four Consecutive Days of Decline

The Indonesian stock market finally returned to the green zone after experiencing a four-day losing streak. Despite Bank Indonesia (BI) maintaining its benchmark interest rate (BI rate) at 5.75% in March 2025, this decision did not negatively impact the Jakarta Composite Index (IHSG), which continued to strengthen.

On Wednesday (March 19, 2025), IHSG surged 1.42% to close at 6,311.66, successfully breaking its four-day decline.

This market rebound presents opportunities for several stocks to continue their upward momentum. CNBC Indonesia Research has identified two stocks that may sustain their gains in the remainder of the trading week.

PT Charoen Pokphand Indonesia Tbk (CPIN) Expected to Benefit from Ramadhan Demand

PT Charoen Pokphand Indonesia Tbk (CPIN), a company specializing in poultry agribusiness, is expected to benefit from increased chicken demand during Ramadhan and Eid celebrations. Historically, demand for poultry products rises significantly during this period.

Additionally, CPIN recently released its financial report, showing a 60.3% net profit increase in 2024, from Rp2.34 trillion last year to Rp3.71 trillion.

This profit growth was driven by strong sales in the broiler chicken segment, which reached Rp35.31 trillion, followed by feed sales of Rp16.44 trillion and processed chicken sales of Rp11.94 trillion.

From a technical standpoint, CPIN’s support level is at Rp4,220 per share, while its resistance level stands at Rp4,790 per share.

PT Solusi Sinergi Digital Tbk (WIFI) Shows Signs of Recovery

PT Solusi Sinergi Digital Tbk (WIFI), a digital stock affiliated with Hashim Djojohadikusumo, the younger brother of Indonesia’s President, is showing signs of a trend reversal after hitting its support level at the 50-day moving average (MA 50) of Rp1,520 per share.

Currently, WIFI shares are regaining strength, with potential upside gaps at Rp2,150 per share and Rp2,500 per share.