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.


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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