Market Update (May 22, 2017)


(OpisBoi‘s Technocopter) Jakarta Composite Index applaud a new record high at 5,825.21 pts, after S&P raised Indonesia’s sovereign bonds rating from a BBB- to BB+ or entering an investment grade. The Indonesian Benchmark Index surged by 2.59% to 5,791.88 pts, at the closing bell last Friday spurred by Infrastructure (3.54%), Finance (3.45%), Property (2.90%) sectors.

239 shares went north, whilst 102 others were losing their steam and another 120 stocks traded, yet closed in the same price. Foreign Investors posted a net sell at a total of IDR101bn, across the board. As the market booked a total value of IDR 8.38tr, from 88,256,713.00 shares traded last Friday.

Having said that, a Long White Candle after the Thrusting Formation with 86.55 Overbought Stochastic area, indicates that the market might still have a room to run for the 5,800s and breach the 5,798-5,801 uptrend resistances.

JCI expected to run between 5,751-5,850 pts for the next trading days, should the 5,747 -5 ,749 able restrain a potential selling tension or profit taking. Therefore you may need to draw your stop loss level at 5,710 pts and mark your cut loss level at 5,670 pts as well.

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

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