Market Prediction

The positive sentiment driving JCI today comes from external factors. US Federal Reserve Chair Jerome Powell told an International Monetary Fund event that US economic recovery could indeed cause a surge in prices, but this is only temporary and it is not inflation.

JCI closed higher with a bullish candle. The stochastic indicator is bullish, MACD histogram is going positive (line sloping) and volume is increasing again. JCI has potential to strengthen to test levels at the range of 6,104 - 6,123. If it moves bearish, JCI can return to the test support at the range of 6,030 - 6,046. Currently, JCI has potential to be in correction.

Commodities Review

• The world oil price corrected after strengthening for two days in a row. The worsening of the spread of the corona virus in several countries such as India and Canada has triggered the decline.

Macro Economic News

• Japan's current account surplus narrowed to JPY 2916.9 billion in February of 2021 from JPY 3060.5 billion in the same month of the previous year and compared to market expectations of a JPY 1966 billion surplus.
• The consumer confidence index in Japan increased by 2.2 points from the previous month to 36.1 in March of 2021, the highest since February last year,

Corporate news

• PT Jasa Armada Indonesia Tbk (IPCM) recorded revenues of Rp 697 billion over the past year. Which is an increase of 2% over the same period the previous year, IDR 682 billion.
• PT Inti Bangun Sejahtera Tbk (IBST) throughout 2020 only pocketed a current year's profit of Rp.67.20 billion, down 47.65 percent from the current year's profit of Rp. 128.83 billion in 2019.
• PT Unggul Indah Cahaya Tbk (UNIC) throughout 2020 pocketed a net profit of USD27,703 million, that profit jumped 125 percent from the company's USD12,212 million net profit in 2019.
• PT Erajaya Swasembada Tbk (ERAA) throughout 2020, pocketed a net profit of IDR 612.00 billion, or jumped 107,45 percent of net profit of IDR 295.06 billion in 2019.

PT Kiwoom Sekuritas Indonesia (KSI)

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