Market Update (May 12, 2017)


(OpisBoi‘s Technocopter) The Jakarta Composite Index retreated below its 5,700s last Tuesday, shrunk by -0.77% to the 5,653.01 level. 259 stocks among all 9 sectors were extending their weakness, where mostly selling pressure drowned the Mining sectors for (-3.04%) along with Trade (-1.91%), and Property (-1.84%). In the mean time, 94 stocks tried to push the Indonesian Benchmark up, whereas 98 others were remained in the same levels.

Foreign Investors booked another IDR753bn Net-Purchased, whilst the market posted a total value of IDR7.09tr for 93,089,440 shares traded. Bargain hunting on HMSP BBCA BBNI GGRM INDF and some other heavyweight stocks.

A Matching Low Candle was supposedly a Bullish Reversal Formation, or at least indicates a limited downside as the OpisBoi‘s Trendicators signaling an oversold condition at the 15.33% Stochastics level. Hence, 5,620 – 5,625 level shall be a good momentum for a Buy On Weakness call.

JCI expected to walk around 5,615-5,705 pts areas. Should JCI able to breach 5,704 pts resistance, you may need to raise your stop loss level at 5,680 pts for the next trading days.

Some of these stocks still have a potential upside to cease the selling pressures, and hold the market steady (TradingBuy); HMSP TLKM UNTR CPIN KLBF PGAS ADRO PTBA ADHI; Foreign Investors eyed on some of these stocks; TBIG INDY ANTM AGII MAIN TOTL WTON(OnScreen); BUMI BWPT BRMS PWON SMRA;

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