DIGIVESTASI – The Jakarta Composite Index (IHSG) opened higher on Thursday (January 2, 2025) morning, rising 29.36 points or 0.41% to 7,109.26. The LQ45 Index, which includes 45 blue-chip stocks, also increased by 3.52 points or 0.43%, reaching 830.17.

Herditya Wicaksana, an analyst at PT MNC Sekuritas, explained that the IHSG has the potential to follow two movement scenarios. In the black scenario, IHSG is estimated to be forming part of wave C within wave (2), which leaves it vulnerable to corrections with a target range of 6,835-6,922.

"Meanwhile, in the red scenario, IHSG is in the early stages of forming wave 1, giving it the potential to strengthen and test levels of 7,217-7,394, provided IHSG can stay above 6,931," said Herditya.

He added that IHSG is expected to move within a support range of 6,951 and 6,843 and a resistance range of 7,118 and 7,263 during this week’s trading. Meanwhile, research from CGS International Sekuritas Indonesia indicated that IHSG is predicted to move variably with a tendency to strengthen. The IHSG is projected to be at support levels of 7,024 and 6,951 and resistance levels of 7,139 and 7,215.