Market Update (May 8, 2017)

(OpisBoi‘s Technocopter) Bargain hunting on some of favorable stocks in Property (1.28%), Consumer (0.91%) and Trade (0.79%) Sectors, managed to stimulate the Indonesia Benchmark Index rose by 0.25% and closed at 5,683.38 pts with a total of 97,086,455.00 shares last Friday’s trading sessions. Foreign Investors posted a Net Bought of IDR641.49bn across the board, mostly on Heavy Weight Stocks.

A Ladder Bottom Formation which was formed last weekend indicates the market may climb to stage an upward breakout. Having said that, with around 1.4% vollatility’s – in the last 5 trading days on the OpisBoi‘s trendicators, gave an opportunity for the JCI to walk around 5,675 – 5,710 pts areas. Should lack of power on the market breath fail to push the index to breach 5,695 – 5,705 resistance, you may need to set the stop loss level at 5,650 pts and mark your cut loss level at 5,510 pts as well.

Some of these stocks might still be interesting and should hold the market steady (TradingBuy); UNTR UNVR ADRO PTBA BMRI HMSP CPIN PPRO PTPP ; Foreign Investors eyed on some of these stocks; LPCK MAPI ACES DEWA HRUM BBTN (OnScreen); BUMI BWPT BRMS PWON SMRA;


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