Market Review (Session 1)

In session 1, JCI closed with negative 1.34% at level of 5,989.06

Retail sales in Indonesia plunged by 18.1 percent year-on-year in February 2021, after tumbling by 16.4 percent a month earlier.

Market Prediction (Session 2)

JCI: The index weakens with a bearish candle. JCI is moving back downtrend because it is moving back at 13.34 EMA. JCI will continue its decline to the next support at the range of 5,944 - 5,960, with initial resistance at level of 6,030.

• MEDC: The price failed to strengthen and go down below support level. The price is expected to continue the downward trend. The price will test support at level 555 and if the price go down below level 555, then the confirmation for the downward trend can continue. May wait at the next support at level 520 to buy on weakness.
• SAME: The price is still in correction and is still in our buy range. The price still has the opportunity to continue the strengthening trend as long as it can hold above support level. We suggest to be careful in case of the price breakdown to below support, it can continue to fall to the support at 456.
• SOCI: The price has successfully touched the target at 236 (+5.35%). But after touching the target, the price reverses direction and the candle becomes bearish. The price will return to test support and may trading buy if after touching support, the price is able to survive or the candle returns become bullish.
• TBIG: The price is still strengthen but limited with a bullish candle. The price still has a chance to strengthen to test the resistance at level of 2,150. We suggest to be careful if the next candle forms a bearish candle and it breakdown to below support level. The price is still moving sideways with a tendency to strengthen.

News

• PT Bali Towerindo Sentra (BALI) in the first quarter of this year earned Rp36.68 billion in profit for the current period attributable to the parent company. Skyrocketed 310.97 percent from the same period 2020 in the range of IDR8.92 billion.
• PT Metrodata Electronics Tbk (MTDL) in 2020 recorded a net profit of IDR 364.93 billion, up 2.2 percent compared to the previous year of IDR 357.07 billion.

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