Market Update (June 9, 2017)


(OpisBoi‘s Technocopter) JCI shrunk for about -0.25% on yesterday’s closing session and slipped to 5,702.92 pts, edge lower from its 5,710 support. There were only 2 sectors barely stands in their positive territory. They were, Trade and Consumer sectors that rose by 0.26% and 0.20% respectively.

Foreign Investors, once again, take a breather by unload some of their stocks and recorded a total net sell for around IDR55bn across the board. Whereas the market booked a total value of IDR6.47tr, which taken from 65,886,220.00 shares traded.

An Evening Doji Star Pattern as a bearish reversal of an upward trend, indicates the market may still experiencing another consolidation stance, to trace its psychological support at 5,690. However, an oversold condition at the 1.97% Fast Stochastic also signaling a limited downside and could give some room for the JCI forming a technical rebound somewhere around today’s trading sessions.

JCI expected to walk around 5,687 – 5,725 pts areas, for today’s trading. Hence, eyed on the heavy weight stock in the Banking, Consumer and Basic Industry, that might ease the selling tension. Your stop loss and cut loss level should be at 5,690 pts.

Some of these stocks might cease a possible continuation of a selling pressures, and hold the market steady (TradingBuy); TLKM BBNI ICBP HMSP AALI LSIP SSMS JSMR WIKA WSKT INTP; Foreign Investors eyed on some of these stocks; MDLN DMAS KPIG MAPI TELE AKRA BMTR SSMS(OnScreen); BUMI BWPT BRMS DEWA PWON CTRA SMRA;

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