99 Tekno JAKARTA. The Jakarta Composite Index (IHSG) experienced a notable downturn as investors braced for the upcoming holiday period. On Tuesday, May 26, the IHSG closed with a decline of 76.16 points, or 1.23%, settling at 6,130.19 on the Indonesia Stock Exchange (BEI).
This market slump was significantly influenced by foreign investors, who registered a substantial net sell of IDR 1.60 trillion across all markets. A more detailed look reveals that foreign investors posted a net sell of IDR 1.89 trillion in the regular market. However, a contrasting trend was observed in the cash and negotiation markets, where foreign investors recorded a net buy of IDR 287.38 billion, suggesting selective interest in specific segments despite the broader selling pressure.
In light of this recent market performance, analysts have provided their technical recommendations for several key stocks ahead of trading on Friday, May 29, 2026. Below is a comprehensive overview of their insights:
1. PT. GoTo Gojek Tokopedia Tbk (GOTO)
GOTO shares are currently holding steady at the IDR 50 level, showing no immediate signs of moving from this critical price point. This lack of upward momentum is particularly evident from the substantial volume of ‘offer’ bids seen in the most recent trading sessions. On Tuesday, May 26, 2026, GOTO concluded trading flat, mirroring its previous day’s close at IDR 50 per share.
Recommendation: Wait and See
Support: Rp 50
Resistance: Rp 53
Analyst: Reza Diofanda, Technical Analyst at BRI Danareksa Sekuritas
2. PT. Astra International Tbk (ASII)
ASII continues to face considerable selling pressure, with the MACD indicator signaling a weakening trend. Despite this, the stock is poised to test a crucial demand area between IDR 4,900 and IDR 5,000, particularly as its RSI indicator approaches oversold territory. This scenario presents an opportunity for a “buy on weakness” strategy. Should a technical rebound materialize, ASII could potentially advance towards a resistance level of IDR 5,525. However, investors are advised to implement a stop-loss if the stock breaks below the support level of IDR 4,870. On Tuesday, May 26, 2026, ASII closed 8.48% lower than the previous day, settling at IDR 5,125 per share.
Recommendation: Buy on Weakness
Support: Rp 4,870
Resistance: Rp 5,525
Analyst: Oktavianus Audi, VP Equity Retail at Kiwoom Sekuritas Indonesia
3. PT. Timah (Persero) Tbk (TINS)
Regarding TINS, the stock’s recent movement is characterized by the formation of a long black body candle, accompanied by a weakening RSI and a declining MACD. Interestingly, this pattern coincides with an increase in trading volume, suggesting significant market participation. Therefore, a “buy on weakness” entry strategy could be considered if the stock undergoes a correction but manages to maintain its position within the IDR 3,170-3,200 range. On Tuesday, May 26, 2026, TINS closed 9.30% lower than the previous day, reaching IDR 3,220 per share.
Recommendation: Buy on Weakness
Support: Rp 3,110
Resistance: Rp 3,450
Analyst: Achmad Yaki, Head of Online Trading at BCA Sekuritas
Summary
The Jakarta Composite Index (IHSG) closed down 1.23% at 6,130.19 on May 26, influenced by investor anticipation for the upcoming holiday. Foreign investors recorded a substantial net sell of IDR 1.60 trillion across all markets, including IDR 1.89 trillion in the regular market. However, they showed selective interest, posting a net buy of IDR 287.38 billion in the cash and negotiation markets.
Following this market downturn, analysts provided technical recommendations for specific stocks. GOTO is advised as “Wait and See” as it holds steady at the IDR 50 level without upward momentum. Both ASII and TINS are recommended for “Buy on Weakness” strategies, with ASII approaching oversold territory and TINS showing increased volume despite a recent decline.