Market Update (June 6, 2017)

(OpisBoi‘s Technocopter) The Jakarta Composite Index edge higher for 0.10% and pushed to close inch lower from its 5,750 resistance at 5,748.24 pts , barely failed to hold on to its positive territorial. As the Financial, Mining and Consumers sectors strengthened for 0.62%, 0.27%, 0.17% respectively, while another 7 sectors slumped amidst the selling tension pass along the TLKM HMSP and UNTR.


There were about IDR6.71tr net value taken from a total of 84,402,665.00 shares traded early this week, as foreign investors recorded a total net purchased by IDR36.137bn on the regular board (IDR171bn net sell, across the board).

A Doji Star Candle that came after the Bearish Counter Attack Lines that lies slightly above the flagpole resistance at around 5,737 – 5,740, indicates that the Indonesian Benchmark Stocks need a new catalyst in order to move further north. Should the index fail to breach the 5,754 – 5,758 resistances, we may need to lower back its support level to 5,690 once again. Having said that, JCI expected to walk around 5,708 – 5,763 pts areas.

Some of these stocks still have a potential upside to cease the selling pressures, and hold the market steady (TradingBuy); TLKM UNVR BBNI BNGA KLBF KAEF ADRO DOID ITMG HRUM NIKL SMBR TBIG INDY TOTL SILO ADMF; Foreign Investors eyed on some of these stocks; BSDE MAPI ERAA TMAS PGAS KRAS SIDO AGII(OnScreen); BUMI BWPT BRMS DEWA PWON CTRA SMRA;


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