JAKARTA – Several analysts say the opportunity for the Jakarta Composite Index (IHSG) to strengthen further this week is increasingly wide, although some caution is advised.

Analysts at BRI Danareksa Sekuritas noted that the IHSG is currently testing a strong resistance level between 7,254 and 7,325, following a rally over recent days and some correction.

“If it manages to break out, the rally opportunity remains wide open,” said BRI Danareksa Sekuritas analysts in their latest research.

However, failure to break through this resistance zone could trigger a technical pullback. Key sentiments to watch include annual general meetings (AGMs), corporate actions, and dividend distributions.

Meanwhile, Ratna Lim, analyst at Phintraco Sekuritas, said the IHSG is still showing a positive technical trend, particularly with the MACD histogram still signalling positive momentum, supported by substantial buying interest.

“However, profit taking ahead of the long weekend should be watched carefully,” Ratna warned in her report.

Thus, the IHSG is expected to continue consolidating in the range of 7,200 to 7,300 this week, according to Ratna.

In recent trading days, the market has responded positively to economic data developments since early May 2025, noted Chief Economist & Head of Research at Mirae Asset Sekuritas, Rully Arya Wisnubroto.

Globally, Rully said markets are focused on the rise in US Treasury yields, which hit 5.03% for the 20-year tenor and 5.04% for the 30-year tenor. He noted that rising yields typically impact investor risk profiles. (KR/ZH)