Market Update (July 11, 2017)


(OpisBoi‘s Technocopter) When some major stocks hikes in the Trade Sectors failed to hold the Indonesia Benchmark Stocks in their safe zone areas or within the 5,800s area, JCI stumbled for -0.74% and sagged to 5,771.51pts.

Price tension on the heavyweight stocks has led 9 out of 10 sectors shrunks, particularly Property, Finance and Consumer Sector slipped by -1.14%, -0.99%, -0.94% respectively. Foreign Investors continue to post a total net sell for IDR536bn, across the boards.

A Long Black Day Candle that form to close yesterday’s trading sessions, signaling a potential of a continuation of a downtrend and may lead the index fall for the 5,750-5,752 psychological supports.

On the other hand, JCI could also form a technical rebound for this Tuesday as the stochastic oversold condition has reach the lower level expected to hold the index to its psychological support. Hence, this could give some room for the JCI to try and move around 5,749 – 5,827 pts, yet you may need to draw your stop loss level at 5,730 pts and 5,710 for the cut loss level.

These stocks might still have some room for trading (TradingBuy); ASII GGRM HMSP BDMN JPFA MIKA TAXI; Foreign Investors eyed on some of these stocks; AGRO BBTN BJTM MCOR BNBA LPCK DMAS GJTL IMAS(OnScreen); BUMI HRTA BWPT BRMS DEWA PWON CTRA SMRA;

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