Market Update (June 12, 2017)


(OpisBoi‘s Technocopter) JCI rests below its 5,690 support, weakened by -0.48% and closed at 5,675.52 pts. 8 out of 10 sectors declined, with Misc-Industry, Finance and Agriculture lead by -1.61%, -0.98% and -0.72% losses. Fallen stocks outnumbered the risen ones by 182 and 149, while 124 others were remained in the same levels.

Foreign Investors recorded a total net sell by IDR1.02tr across the board, as they unload their exposure on ASII BBRI BBNI BBCA. While the market booked a total value of IDR6.96tr from 76,675,198 shares traded last Friday.

A positive knot on a possible golden cross momentum at 5.89% oversold stochastic‘s level, indicates that the last of a concealing baby candle shall be a false break and might give JCI room to reverse back to the 5,700s area.

JCI expected to walk around 5,672 – 5,718 pts with an open possibility to reach the next resistance level at 5,730 – 5,735. Therefore, we might have to raise the critical support to 5,706 pts with 5,690 as the stop loss level.

Some of these stocks have a possible technical rebound to hold the market steady (Buy); ASII BBRI BMRI BBNI AALI LSIP ICBP AALI LSIP SSMS PGAS WIKA WSKT SMBR; Some of these stock had a possible bullish continuation (TradingBuy)TLKM GGRM HMSP UNVR SMGR INTP IIKP;Foreign Investors eyed on some of these stocks; MDLN ITMG MAPI RALS ACES TELE BBTN BBKP BNBA BMTR SCMA(OnScreen); BUMI BWPT BRMS DEWA PWON CTRA SMRA;

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