The Indonesia Composite Stock Price Index (IHSG) is projected to continue weakening on Monday (March 16). On Friday (March 13), the IHSG extended its correction by falling 3.05 percent to 7,137.

Analysts from MNC Sekuritas estimate that the IHSG’s current position is part of wave (v) of wave [c] of wave A in the black label or wave (2) in the red label.

“This indicates that the IHSG still has the potential to extend its correction toward the range of 6,991–7,140. Meanwhile, the nearest resistance area is located at 7,241–7,308,” wrote MNC Sekuritas analysts in their research report on Monday (March 16).

MNC Sekuritas analysts also recommended several stocks to monitor during Monday’s trading session, namely ADMR, DSNG, PTRO, and TAPG.

From a fundamental perspective, analysts at Phintraco believe investor concerns are increasing that the prolonged conflict between the United States and Iran could keep crude oil prices elevated longer than expected. This situation is considered likely to trigger higher inflation while also widening the state budget deficit.

The option to widen the state budget deficit beyond 3 percent is still under discussion. The government is currently calculating the potential impact of rising crude oil prices on fiscal conditions.

If the decision to expand the deficit above 3 percent is eventually taken, the government will first consider the fiscal consequences involved.

Another negative sentiment comes from U.S. trade policy, which has launched a new investigation into 60 countries. The investigation aims to determine whether those countries failed to limit imports of goods produced using forced labor.

“Section 301 allows the U.S. government to impose tariffs on countries proven to engage in unfair trade practices without requiring additional authorization from Congress,” Phintraco Sekuritas wrote in its research report on Monday (March 16).

This investigation follows another probe announced on Wednesday (March 11) targeting industrial overcapacity in 16 countries, including China, Australia, Indonesia, Japan, Malaysia, Singapore, South Korea, Switzerland, and Thailand.

Meanwhile, the United States has temporarily allowed the purchase of Russian crude oil that is already at sea in order to help stabilize global oil prices.

It is estimated that around 124 million barrels of Russian oil are currently in transit at sea across roughly 30 locations worldwide as of March 12, 2026. This volume is equivalent to about five to six days of global oil supply.

“Technically, the IHSG is expected to potentially continue its correction by testing the psychological level of 7,000,” wrote analysts at Phintraco Sekuritas.

Stocks that may attract attention this week include PTBA, JPFA, CPIN, ULTJ, LSIP, and ADMR.

Disclaimer: Investment decisions are entirely based on the reader’s own considerations and judgment. This information does not constitute a recommendation to buy, hold, or sell any specific investment product.