Market Update (June 7, 2017)


(OpisBoi‘s Technocopter) Indonesia Composite Index lower at close on yesterday’s trading session. JCI declined by -0.70% and sagged to 5,707.83 pts, nearing its support at 5,705 pts. Pairing the losses on Property, Miscellaneous Industry, as well as Financial sectors by -2.28%, -1.66% and -1.09% respectively. Due to a risen geopolitical tension in the Middle East, and it gave cautions over risk ahead.

The market booked a total net value of IDR6.33tr, which taken from 91,233,112.00 shares traded. Fallen shares outnumbered the risen ones, by 226 and 122 whilst 104 remained unchange. On the other hand, Foreign Investors recorded a total net sell by IDR679mn across the board.

A Collapsing Doji Star Formation which complement the Bearish Counter Attack Formation, (refer to our latest market commentary) the 19.93% oversold stochastic position signaling the selling strain is diminishing. And shall give a momentum for the JCI and forming out a bullish reversal, to put an end the downward threat.

However, should the selling tension continues to push the index lower and probe the 5,690 psychological support, JCI is expected to be able to run between the 5,688 – 5,757 areas.

Some of these stocks still have a potential upside to cease the selling pressures, and hold the market steady (TradingBuy); TLKM UNVR BBNI KBLI KBLM HMSP GGRM INAF PTBA DOID ITMG HRUM INDY ICBP; Foreign Investors eyed on some of these stocks; BEST ASRI DMAS TELE MPMX MDRN(OnScreen); BUMI BWPT BRMS DEWA PWON CTRA SMRA;

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