Market Update (May 10, 2017)


(OpisBoi‘s Technocopter) JCI were closed at 5,697.06 pts skid around -0.19%, dragged by a sell off which mostly on Mining (-2.42%), Agriculture (-1.09%), and Misc-Industry (-0.79%) sectors. Even when the market tried to push the Indonesian Benchmark higher, and marked a new high level at 5,745.85 pts right after yesterday’s opening bell.

Among the total of 211,362,143.00 shares traded, 233 shares dwindled from their peak areas, 122 others tried to pull the JCI back to the green zone by recording a positive points, whilst 94 shares remained in the same prices. Foreign Investors posted another IDR679.10bn net purchased , from a total traded value of IDR7.66tr.

Only if the Tweezers Top Candle fail to spur the JCI to the overhead resistance target at 5,750 pts, and drives the index around the 5,700 – 5,750 pts, as the stochastic lured away from its overbought level at 84.66 by entering the consolidation area. You may need to lower your support level to 5,680, and mark the cut loss level at 5,650.

Some of these stocks still have a potential upside to cease the selling pressures, and hold the market steady (TradingBuy); HMSP UNVR GGRM UNTR KLBF INTP MYOR SMGR; Foreign Investors eyed on some of these stocks; BJTM BNGA CTRA ASRI MDLN ERAA MAPI WSBP PTPP MEDC PGAS KBLI(OnScreen); BUMI BWPT BRMS PWON SMRA;

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