The Composite Stock Price Index (IHSG) is considered still vulnerable to further correction in today’s trading session, Friday (Jan. 30, 2026). Several stocks, including HRUM, ISAT, and TLKM, have been selected as MNC Sekuritas’ top picks for the day. Based on data from the Indonesia Stock Exchange (IDX), the IHSG closed down 1.06% at 8,232.20 on Thursday (Jan. 29, 2026). During the session, the index fluctuated between 7,481.99 and 8,296.94. A total of 227 stocks advanced, 544 declined, and 187 remained unchanged. Among large-cap stocks, PT Petrindo Jaya Kreasi Tbk. (CUAN) led the gains, surging 18.59% to Rp1,850 per share.

PT Bank Rakyat Indonesia (Persero) Tbk. (BBRI) rose 5.29% to Rp3,780, while PT Astra International Tbk. (ASII) climbed 4.86% to Rp6,475. Other gainers included PT Barito Renewables Energy Tbk. (BREN), which advanced 4.52% to Rp8,675, PT Chandra Daya Investasi Tbk. (CDIA) up 3.78% to Rp1,235, and PT Amman Mineral Internasional Tbk. (AMMN), which gained 2.14% to Rp7,150.

MNC Sekuritas analyst Herditya Wicaksana explained that technically, the IHSG is currently positioned within wave (b) of wave [x] in wave 4 on the black-label structure. As a result, the index still has room to extend its correction toward the 7,889–8,104 range. This outlook is supported by the previous session’s 1.06% decline, which occurred alongside relatively heavy selling volume. IDX data also showed that foreign investors recorded a net sell of Rp4.63 trillion. According to Herditya, the next resistance area for potential recovery is expected to be in the 8,323–8,527 range, as stated in his daily research report released on Friday (Jan. 30, 2026).

Despite the cautious outlook, several prominent stocks are still expected to show strength. PT Harum Energy Tbk. (HRUM), although it fell 3.60% to Rp1,070 and remained under selling pressure in the previous session, is considered to be in wave [iv] of wave C.

The stock is recommended for a buy-on-weakness strategy at Rp1,035–Rp1,055, with target prices of Rp1,130 and Rp1,175, and a stop-loss level below Rp1,000. PT Indosat Tbk. (ISAT) is also recommended for buy on weakness, with target prices of Rp2,300 and Rp2,370. ISAT rose 1.82% to Rp2,240 in the previous session, supported by increasing buying volume, while the recommended stop loss is set below Rp1,950. PT Sanurhasta Mitra Tbk. (MINA) is suggested as a speculative buy, targeting Rp414 and Rp462 with a stop loss below Rp336. MINA declined 5.08% to Rp374 but was accompanied by buying volume, and is estimated to be in wave [iv] of wave C. Lastly, PT Telkom Indonesia (Persero) Tbk. (TLKM) is also recommended for buy on weakness, with target prices of Rp3,550 and Rp3,650, and a stop loss below Rp3,250 per share. This information is provided for reference only and does not constitute an invitation to buy or sell securities, with all investment decisions resting entirely with the reader.