Market Prediction

At the close of trading last week, JCI managed to turn to the positive area.

In addition, economic indicators data which is Manufacturer's data for March period show a better condition or at the level of 53.2, higher than the previous period which was at the level of 50.9.

Today, JCI has the opportunity to strengthen.

JCI managed to strengthen with a bullish candle. Stochastic indicator is neutral, MACD histogram is negative (line is weakening) and volume is down. If the index is able to move in the bullish candle, there is a potential to strengthen up to the resistance flow at the range of 6,058 - 6,066. Conversely, if the movement tends to be bearish again, JCI could return to test support at the range of 5,829 - 5,960.

Commodities Review

• Crude oil prices surged at the end of trading Thursday (1/4/2021) after a meeting of the Organization of the Petroleum Exporting Countries and its allies, or OPEC +, reached an agreement to reduce production in stages starting May 2021.

Macro Economic News

• The US economy added 916K jobs in March of 2021, the most in 7 months, following an upwardly revised 468K in February. It compares with market expectations of 647K, amid easing business restrictions, falling coronavirus infection rates, a fast vaccine rollout and continued support from the government.
• The US unemployment rate fell to 6 percent in March of 2021 from 6.2 percent in the previous month, the lowest rate in a year and in line with market expectations.
• South Korea's consumer price inflation increased to 1.5 percent year-on-year in March 2021 from 1.1 percent in the previous month and beating market expectations of 1.35 percent.

Corporate news

• PT Siloam International Hospitals Tbk (SILO) recorded revenue growth of up to 1.31% throughout 2020. SILO posted revenues of up to Rp 7.11 trillion last year, up from Rp 7.02 trillion the previous year. '
• PT Gunung Raja Paksi Tbk (GGRP) posted net sales of US $ 613 million in 2020. This number decreased by 25.56% (yoy) compared to the realization of net sales in 2019 of IDR 823.50 million.
• PT Plaza Indonesia Realty Tbk (PLIN) has had a less than satisfactory performance over the past year. PLIN pocketed Rp 927.49 billion in revenue in 2020, or a 35.22% reduction from the previous year's Rp 1.48 trillion.
• PT Champion Pacific Indonesia Tbk (IGAR) managed to lift its net profit in 2020. Based on the company's financial statements, IGAR's net profit reached IDR 44.12 billion last year, slightly up 1.17% from 2019's net profit of IDR 43. 61 billion.

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