IHSG Faces Correction Risk, Phintraco Highlights 5 Promising Stocks

Phintraco Sekuritas predicts that the Jakarta Composite Index (JCI) is at risk of a potential correction on Friday, May 2, 2025. The index is expected to move between the resistance level of 6,800, a pivot point at 6,750, and a support level of 6,700.

They have recommended five stocks as strong candidates for gains, including PGAS.

According to Phintraco, the JCI formed a doji star pattern for the third consecutive time on Wednesday, April 30, 2025. At the same time, the MACD indicator showed a narrowing positive slope, suggesting potential weakness. These technical signals indicate a possible pullback forming an evening star pattern—an early warning of a minor bearish reversal.

“Investors should stay alert if the index retreats significantly toward the 6,700 level,” wrote Phintraco in its Friday research note.

On the domestic front, investors are also watching closely for the release of April 2025 inflation data, scheduled for today. This data could confirm concerns about a slowdown in household spending during the month, driven by factors such as fewer travelers during the Eid holidays.

“As well as reduced consumer spending due to budget tightening and delays in purchases influenced by U.S. tariff sentiment,” added Phintraco.

Moreover, investors are awaiting the April 2025 PMI manufacturing index. In March, the index stood at 52.4—well above the expansion threshold of 50.

“This data also aligns with the previously mentioned consumption trend,” said Phintraco.

As for stock picks, Phintraco recommends five potentially profitable names: PGAS, MYOR, KLBF, MAPI, and BMRI.