Market Update (May 19, 2017)


(OpisBoi‘s Technocopter) Indonesia Benchmark Index was opened lower, before it finally ends higher and surged by more than half percent (0.53%) and lifted from 5,615.49 pts to closed at 5,645.45 level. HMSP BBCA ASII BMRI, along with Misc-Industry (1.51%) Mining (1.18%) which were painted red before, managed to pull the JCI back from its negative territory. Even when 165 weakened stocks, outnumbered 157 gainer stocks, Foreign Investors posted another IDR393.73bn of net purchase across the board. Whilst the market generate about IDR7.31trn net transaction from a total volume of 84,250,408.00 shares traded that day.

Having said that, with around 2.2% volatility’s – in the last 5 trading days and a Thrusting Candle formed on the OpisBoi‘s short-term trendicators of a 40.36% oversold trading stochastic, should be able to give the market a chain of a positive reaction. Therefore, JCI expected to walk around 5,620 – 5,688 pts areas as a bullish reversal confirmation. The critical support will be at 5,624 pts to lead or hold the JCI back to the green zone areas. Your stop loss level should be at 5,590 pts and the cut loss level is at 5,550 pts.

Some of these stocks still have a potential upside to cease the selling pressures, and hold the market steady (TradingBuy); HMSP BBCA ASII KLBF PGAS SMBR CPIN MAIN ADHI WIKA WSKT UNTR PPRO ADRO PTBA ITMG HRUM; Foreign Investors eyed on some of these stocks; BBKP PNBN BNGAASRI EXCL(OnScreen); BUMI BWPT BRMS PWON CTRA SMRA;

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