Market Update (June 8, 2017)


(OpisBoi‘s Technocopter)

Indonesian Benchmark Stocks edged higher by 0.17% to 5,717.33 pts, amidst the uncertainties over the macro backdrops sentiments. Gains collected on those 7 out of 10, lead by Mining, Financial and Property sectors for 0.81%, 0.50%, 0.43% respectively, and managed to push the Jakarta Composite Index 9.49 pts higher that its previous close.

Foreign Investors, once again, recorded a total net sell by IDR188bn across the board. Whilst the market booked a total net value of IDR5.14tr, from a 76,644,810.00 shares traded. Though the fallen stocks outnumbered the risen ones, by 163 and 146 with 141 others unchanged.

A Bullish Harami Cross that formed on the Wednesday’s closing bell, with the golden cross signal at the Fast%K 28.69 oversold area is likely to send the index an inches higher to reach back the 5,745 – 5,750 resistance levels.

Having said that, JCI expected to walk around 5,713 – 5,753 pts. Therefore the critical stop-loss support will be at 5,710, and cut loss level should be at 5,690 pts.

Some of these stocks still have a potential upside to cease the selling pressures, and hold the market steady (TradingBuy); TLKM BBNI AALI LSIP TBLA GGRM UNVR KLBF KAEF INAF ICBP ITMG INDY UNTR DOID JSMR WIKA WSKT INTP; Foreign Investors eyed on some of these stocks; IIKP ASRI MDLN DMAS GPRA KPIG PNBN MCOR WSBP BMTR BHIT SSMS(OnScreen); BUMI BWPT BRMS DEWA PWON CTRA SMRA;

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