Trading Recommendations for EXCL, GGRM, and DEWA Stocks

Technical Analysis Highlights

Mandiri Sekuritas has identified three stocks showing promising technical signals: EXCL, GGRM, and DEWA. These recommendations are based on closing prices as of January 8, 2026.

1. XL Smart Telecom Sejahtera (EXCL)

• Current Price: Rp 4,300
• Recommendation: Buy
• Target Price: Rp 4,390
• Stop Loss: Rp 4,250
• Resistance: Rp 4,390

EXCL has formed a marubuzo candlestick pattern, indicating strong and dominant price movement. This technical formation suggests that the stock is likely to continue its current trend.

2. Gudang Garam (GGRM)

• Current Price: Rp 15,350
• Recommendation: Buy
• Target Price: Rp 16,000
• Stop Loss: Rp 15,000
• Resistance: Rp 16,000

GGRM has shown a cross up moving average 50 days signal, which is typically considered a bullish indicator. This suggests potential for an upward trend or price strengthening as it has broken through the MA50.

3. Darma Henwa (DEWA)

• Current Price: Rp 800
• Recommendation: Buy
• Target Price: Rp 825
• Stop Loss: Rp 790
• Resistance: Rp 825

DEWA is in a bullish continuation phase, indicating that the upward trend is likely to persist rather than being a temporary bounce. This suggests that the stock has further upside potential.

Market Context

The IHSG closed at 8,925.47 on January 8, 2026, down 0.22% with a trading value of Rp 36.8 trillion. Meanwhile, the LQ45 index fell 0.45% to 867.62. The most actively traded stocks were DADA, BUMI, and GOTO.