Market Prediction

Today, JCI is expected to move lower. Market players have anticipated the release of several data on domestic economic indicators which are predicted to experience a slowdown.

JCI closed down again with a bearish candle. The stochastic indicator is weakening, MACD histogram is negative (line is weakening) and volume is increasing. JCI will continue its decline if it is unable to return above level 6,167, targeting the decline to the range of 6,106 - 6,143. If it is bullish again or back above the level of 6,167, JCI could return to the resistance levels of 6,195 - 6,225.

Commodities Review

• Gold prices fell on Monday as a stronger U.S. dollar and hopes for a swift global economic recovery boosted share markets, denting demand for a safe haven.

Macro Economic News

• The Federal Reserve Bank of Dallas' general business activity index for manufacturing in Texas increased 11.7 points from the previous month to +28.9 in March of 2021, the highest since August of 2018.

• Consumer credit in the United Kingdom fell by GBP 1.2 billion in February of 2021, following a GBP 2.6 billion decrease in the previous month and matching market expectations.

Corporate news

• The performance of PT Samindo Resources Tbk (MYOH) was less than satisfactory in the last year. The company recorded revenues of US $ 173.47 million in 2020, down 31.82% year on year (yoy).

• The financial performance of PT Barito Pacific Tbk (BRPT) in 2020 is quite convincing. Based on the company's financial report, BRPT's net profit last year reached US $ 141 million. This realization increased by 2.9% compared to the consolidated net profit achieved by BRPT in 2019 which amounted to US $ 137 million.

• PT Djasa Ubersakti Tbk (PTDU) throughout 2020 posted a net profit of Rp 2.97 billion or a decrease of 1.98 percent from Rp3.03 billion in 2019.

• PT Bukaka Teknik Utama (BUKK) throughout 2020 pocketed a profit of Rp 423.60 billion. Dropped by 13.90 percent compared to the profit for the same period in 2019 in the range of IDR 492.01 billion.

• PT AKR Corporindo (AKRA) has increased its issued and paid-up capital in its subsidiary, PT Anugerah Krida Retailindo (Akrida) on March 24, 2021. AKRA increased its issued and paid-up capital from Rp 8.5 billion to Rp 467.95 billion.

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