Market Update (June 5, 2017)


(OpisBoi‘s Technocopter) JCI edge up by 0.07% to close at 5,742.45 pts, last Friday. With a total of 136,090,294 shares, or equivalent with IDR8.95tr trading values. Fallen stocks outnumbered the rising ones by 196 and 143, where Foreign Investors recorded a total Net Sell by IDR27bn across the board.

JCI in need for a fresh news and prone to go sideways, as the volatility steady around 1.0% in the last 5 trading days. Liquidity is still in the market, average daily trading value marked around IDR8,23tr for May and registered a total of IDR7.81tr average daily base on year to date basis. Foreign Investors recorded IDR21.41tr across the board, for the same period. USD/IDR maintained around IDR13,280-13,356 levels.

We need to pay attention on a Bearish Counter Attack Lines which concluded the Mat Hold Formation, this might indicates a short-term bearish reversal to set a short breather on the index for 5,690-5,705 support once again. However, a Loose Pennant Formation that was formed from May 19th, could also give the JCI a room to move forward and reach its 5,754-5,758 resistances.

Therefore, JCI expected to walk around 5,743-5,769 pts areas this Monday, and eyed on within its critical stop loss support at 5,690 should the selling tension continue and drag the Indonesia Benchmark Stocks lower and breach the 5,709-5,713 supports

Some of these stocks still have a potential upside to cease the selling pressures, and hold the market steady (TradingBuy); TLKM ASII UNVR BBNI BJTM BNGA KAEF DOID ITMG LPKR SOCI ; Foreign Investors eyed on some of these stocks; MAPI RALS ERAA AKRA KRAS NIKL(OnScreen); BUMI BWPT BRMS DEWA PWON CTRA SMRA;

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