Market Update (May 4, 2017)

(OpisBoi‘s Technocopter) JCI (Indonesia Composite Index) ends lower for -0.50% and closed at 5,647.37 pts with a total of 91,435,872.00 shares yesterday, following another losses on the Mining (-2.26%), Misc-Industry (-1.42%), and Infrastructure (-1.37%) sectors. There were 251 stocks declined, 96 stocks remain unchanged and around 90 others unable to curb the selling pressures and profit taking on most heavyweight stocks, even when Foreign Investors booked another Net Bought for IDR324.58bn, across the board.

As mentioned on OpisBoi‘s yesterday market review where ” … JCI is setting up a reversal around the 5,640 – 5,675 bps supports … “, another Black Marubozu complement the Identical Three Black Crows Formation, signaling that the market likely experiencing another negative trend tampered by another selling pressures or profit taking. 

Continue reading “Market Update (May 4, 2017)”

Market Update (May 3, 2017)

(OpisBoi‘s Technocopter) JCI (Indonesia Composite Index) took a few step back and retreated for -0.17% closed at 5,675.81 bps with a total of 84,660,898.00 shares traded, twisted away from its uptrend support at  5,685 – 5,690 bps range last Tuesday. Pulled away from its peak where Mining, Property, and Basic-Industry Sectors slumped respectively by 1.95%, 1.34% and 1.17%. Foreign Investors made another Net bought for IDR838.37 on a Regular Board. 

Three Outside Down Formation supposedly a negative trend, signaling that the market were slowing down, on the stochastic overbought trading point at 72.34/77.87 areas.

Continue reading “Market Update (May 3, 2017)”

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