Market Update (June 15, 2017)


(OpisBoi‘s Technocopter) Ahead of the possibility Fed Rate Hike, Jakarta Composite Index surge by 1.49% to close at 5,792.90 pts. Led by Misc-Industry, Property, Mining sectors that gains 3.35%, 2.13% and 1.85% respectively. And it was a new record high for June trading sessions, even when the Foreign Investors recorded a net sell by IDR199.21bn across the trading boards.

And the advancing stocks outnumbered the weakened ones, by 240 and 124, where 102 others remained in the same level. There were a total of 77,987,915 shares traded, with a total value of IDR6.22tr. Indonesia’s heavy weight stocks as the index’s movers were climbed sufficiently high, ASII gains 3.97%, BBRI surge by 2.59%, BMRI flew as high as 2.04% as well and pushed the JCI’s candle to form an Opening White Marubozu

This White Marubozu Candle (which in theory signaling a continuation of a price trend) at the JCI’s extremely overbought level of the stochastic indicator, indicates that the market will be facing a potential profit taking for the next trading sessions. Hence, this could hold back the Indonesia Benchmark Stocks in trying to go higher and enter the 5,800s area.

Having said that, with around 2.2% vollatility’s – in the last 5 trading days with a TradingSell signal based on most of the OpisBoi’s short-term trendicators. JCI expected to walk around 5,707-5,821 pts, with a tendencys to go lower to reach the 5,690s support.

Some of these stock had a possible bullish continuation (TradingBuy); BBNI BMRI ICBP INTP TLKM ADHI WIKA WSKT LSIP AALI HMSP LPPF PTBA DOID ITMG AKRA ANTM MEDC SRIL SSMS BMTR BHITForeign Investors eyed on some of these stocks; LPKR MAPI BJTM AGRO PNLF MLPL INDY INAF SIDO TINS BFIN SSIA TOTL(OnScreen); BUMI BWPT BRMS DEWA PWON CTRA SMRA;

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