The Composite Stock Price Index (IHSG) is projected to continue its short-term consolidation phase in Thursday’s trading (April 16, 2026). In the previous session, the index declined by 0.68% to 7,623. Increasing selling pressure indicates that the index movement remains unstable and prone to short-term fluctuations. According to MNC Sekuritas research, the IHSG is currently positioned within wave [iv] of wave A or part of wave B. This condition still leaves room for further upside toward the range of 7,786 to 7,843 while testing resistance levels. However, market participants should remain cautious of potential further corrections that could push the index toward the nearest support area between 7,457 and 7,578. Technically, IHSG support levels are at 7,488 and 7,351, while resistance levels are at 7,700 and 7,861. Amid relatively limited index movement, MNC Sekuritas recommends several stocks to watch.

Shares of PT Aneka Tambang Tbk. (ANTM) rose 1.03% to Rp3,940, but remained under selling pressure and have yet to break above the MA60. The stock is estimated to be in wave [iii] of wave C. It is recommended as a speculative buy in the range of Rp3,810 to Rp3,930 with a target price of Rp4,070 to Rp4,270 and a stop loss below Rp3,780. Meanwhile, PT Harum Energy Tbk. (HRUM) gained 0.97% to Rp1,040 but is still facing selling pressure. The stock is estimated to be in wave iii of wave (c) of wave [d]. A buy-on-weakness strategy is suggested in the range of Rp1,015 to Rp1,035 with a target of Rp1,115 to Rp1,150 and a stop loss below Rp1,010. PT Trimegah Bangun Persada Tbk. (NCKL) climbed 2.68% to 1,150 but remains below the MA20 and is still dominated by selling pressure. The stock is estimated to be in wave [iv] of wave C. MNC Sekuritas recommends a buy-on-weakness approach in the range of Rp1,120 to Rp1,145 with a target of Rp1,215 to Rp1,245 and a stop loss below Rp1,100. Meanwhile, PT Perusahaan Gas Negara Tbk. (PGAS) increased 2.71% to 1,895, supported by strong buying volume and successfully breaking above the MA20. The stock is estimated to be in wave A of wave (B). A buy-on-weakness strategy is recommended between Rp1,855 and Rp1,895 with a target of Rp1,965 to Rp1,995 and a stop loss below Rp1,835.

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