Market Update (May 29, 2017)

(OpisBoi‘s Technocopter) JCI rose by 0.23% and closed at 5,716.82 pts, with a total of 76,531,164.00 shares traded last Friday. 8 out of 10 sectors gained their positive numbers, led by Infrastructure (1.72%), Mining (0.63%) and Trade (0.36%). Yet, there were 182 sell off shares outnumber the risen stocks by 20% (152 stocks). Where foreign investors posted a net sell of IDR78bn across the board, however they posted a total of IDR 28.72tr since the first trading day of 2017.

A Doji Candle after the Bullish Meeting Lines at 35.50% of its Stochastic’s Oversold Trading, signaling the Indonesian Benchmark Index in need of a positive and good catalyst to hold on to its 5,700s level. Should the 5,690s support able to restrain the selling pressure, JCI will likely climbing up-north and running for the 5,725 – 5,730 resistance level. Hence, 5,691 – 5,697 shall be taken as the psychological support if the index unable to breach its 5,725 resistance.

Having said that, with around 4.3% vollatility‘s – in the last 5 trading days based on most of the OpisBoi‘s short-term trendicators. JCI expected to walk around 5,719 – 5,744 pts areas.

Some of these stocks still have a potential upside to cease the selling pressures, and hold the market steady (TradingBuy); TLKM ASII BBCA BBTN HMSP KLBF RALS MAPI PGAS ADRO PTBA UNTR; Foreign Investors eyed on some of these stocks; BNGA BJTM BBKP ITMG DOID HRUM BSDE BEST MPPA SRIL SMSM MAIN JPFA(OnScreen); BUMI BWPT BRMS DEWA PWON CTRA SMRA;


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