Market Update (June 13, 2017)

(OpisBoi‘s Technocopter) Sluggish Market condition, could only lift the JCI as high as 0.28% to close at 5,691.44 pts and unable to finish at the 5,700s area. Bargain hunting on some heavy weight stocks, led 9 out of 10 sectors to ends higher and booked some gains; Misc-Industry, Trade and Finance sectors were the leader.

Foreign Investors recorded a net purchase by IDR617bn across the board, whilst the market booked a total number of IDR5.30tr from 60,354,147 shares traded. And within, the risen stocks outnumbered the fallen ones by, 165 to 158 and 107 ended in the same level.

A Bullish Belt-hold to conclude the Ladder Bottom Formation as the last candle often acts as a bullish reversal in the short-term downtrend, should be able to drive the index edge higher and breach the 5,712-5,715 resistances. Having said that, JCI expected to walk around 5,698 – 5,746 pts areas.

Some of these stock had a possible bullish continuation (TradingBuy); ASII BBRI BBNI ICBP SSMS PGAS WIKA WSKT SMBRForeign Investors eyed on some of these stocks; JPFA PNLF BEST LPKR PNBN BMTR(OnScreen); BUMI BWPT BRMS DEWA PWON CTRA SMRA;


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