Market Prediction

Today, JCI is expected to move lower. As for Asian stock markets this morning opened varied, with some others opening in a negative position.

Meanwhile, Chair of US Federal Reserve, Jerome Powell stated that the central bank is much more worried about increasing COVID-19 infections than inflationary pressures.

Wall street stock index, all three managed to close in positive territory at the end of last week.

JCI closed down with a bearish candle. The stochastic indicator is bullish, MACD histogram is in a positive direction (sloping line) and volume is down. If it moves bearish, JCI can return to the test support at the range of 6,020 - 6,040. If it is able to strengthen, the resistance levels are at the range of 6,113 - 6,123.

Commodities Review

• World oil prices continued their correction to record the worst week in three weeks. The opportunity for price increases is still quite open, although it tends to be limited.

Macro Economic News

• The consumer price index in China rose by 0.4% yoy in March 2021, after a 0.2% drop a month earlier and compared with market consensus of a 0.3% gain.
• Indonesia's consumer confidence index increased 7.6 points from the previous month to 93.4 in March 2021, amid the massive COVID-19 vaccination program.

Corporate news

• PT Mitra Pinasthika Mustika Tbk (MPMX) experienced a decline in performance throughout 2020, which was recorded at Rp. 11.2 trillion, and net profit was recorded at Rp. 133.6 billion, down 32.5% and 71.4% YoY respectively as a result of the impact. the Covid-19 pandemic.
• The performance of PT Perusahaan Gas Negara Tbk (PGAS) was under pressure throughout 2020. PGAS posted a net loss attributable to the owners of the parent entity amounting to US$ 264.77 million declined compared to 2019 which recorded a net profit of US$ 67.58 million.
• PT Multi Indocitra Tbk (MICE) posted a poor performance throughout 2020. MICE revenue and sales last year were only IDR 654.28 billion. As a comparison, MICE recorded sales and revenue of IDR 704.89 billion in 2019. This means that MICE posted a decrease of 7.1% (yoy) in 2020.
• PT Nusantara Almazia Tbk (NZIA) posted an increase in revenue in 2020 of 240,17% on an annual basis (yoy) from Rp 23.7 billion to Rp 80.73 billion.
• PT Panca Mitra Multiperdana Tbk (PMMP) was able to record good performance. Over the past year, PMPP recorded a 19.5 percent increase in revenue to US $ 170.5 million.

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