Market Update (May 9, 2017)


(OpisBoi‘s Technocopter) JCI retreated from its new high which was created when it’s surged to 5,727.48 pts, before the closing bell of yesterday’s first session. Nevertheless, JCI managed to hold on its positive area as its closed at 5,707.86 pts or 0.43% higher from its previous trading day. Lead by Basic-Industry  (2.21%), Agriculture (1.20%) and Misc-Industry (1.14%) along with other 4 sectors, whilst ConsumerProperty and Infrastructure were soaked with selling pressures.

There were a total of 84,375,930.00 shares traded, where 187 stocks pushed north, 158 stocks declined and 103 others remained in the same price. Foreign Investors stored a total net purchased of IDR1.64tr across the board, mostly on heavy weight stocks like; BBCA ASII UNVR BBRI BMRI and UNTR

Should a Shooting Star candle which came over an Advance Block Formation indicates a bearish reversal, but the OpisBoi‘s trendicators testing shows a bullish continuations seems to reside the reversal patterns. As the Volatility Indicator signaling that there is enough room for JCI to reach its 5,750 pts resistance target.

JCI expected to walk around 5,705 – 5,749 pts areas, with 5,695 pts should be taken for a stop loss level and the cut loss level would be at 5,680 pts.

Some of these stocks might still be interesting and should hold the market steady (TradingBuy); UNTR AALI ADRO PTBA BMRI HMSP PPRO; Foreign Investors eyed on some of these stocks; BBTN BJTM BBKP LPKR BSDE HRUM(OnScreen); BUMI BWPT BRMS PWON SMRA;

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