Market Prediction

Yesterday, JCI managed to strengthen 2.07% and reached levels above 6,000. As for today's trading, JCI still has the opportunity to continue strengthening.

The balance of trade data for March period is scheduled to be released, with an estimated surplus but estimated to be below February figure.

JCI closed higher with a bullish candle. The stochastic indicator has the opportunity to have a golden cross, the MACD histogram is in a positive direction (sloping line) and volume is down. JCI has the potential to further strengthen in our resistance flow at the range of 6,088 - 6,113. Meanwhile, if the bearish candle moves again, JCI can return to test support at the range of 5,982 - 6,001.

Commodities Review

• Gold prices fell in trading on Wednesday (14/4) after yields US Treasury Strengthened again and weighed on precious metal commodities. Yet at the same time, the United States dollar (US) was still under pressure.
• Crude oil prices jumped nearly 5% in the previous trading session. The main sentiment came after a report from the International Energy Agency (IEA) was followed by United States (US) inventory data that raised optimism about resilient demand after last year's coronavirus lockdown crushed fuel consumption.

Macro Economic News

• The unemployment rate in South Korea edged down to 3.9 percent in March of 2021 from 4.0 percent in the previous month and compared to 3.8 percent in the same month of the prior year.
• Core machinery orders in Japan, which exclude those for ships and from electric power companies, unexpectedly dropped by 8.5 percent month-over-month in February of 2021, missing market expectations of a 2.8 percent gain and after a 4.5 percent fall a month earlier.
• Prices for US exports rose 2.1 percent from a month earlier in March 2021, following a 1.6 percent advance in February and easily beating market expectations of a 1.0 percent gain.s

Corporate news

• In the midst of the Covid-19 pandemic, the performance of PT Bank Pembangunan Daerah Jawa Timur Tbk (BJTM) profit grew 8.17% to Rp 1.46 trillion year on year (yoy). This profit growth is in line with BJTM's revenue increase of 9% to IDR 83.62 trillion throughout 2020.
• PT Langgeng Makmur Industri Tbk (LMPI) posted net income of IDR 513.61 billion throughout 2020. This number decreased by 0.75% on an annual basis. (yoy) from 2019 net income of Rp 517.51 billion.
• PT Astra Agro Lestari Tbk (AALI) recorded a net profit of IDR 833.1 billion throughout 2020. This gain increased by 294.6% on an annual basis (yoy) compared to the same period in the previous year of IDR 211.1 billion.
• PT Bentoel Internasional Investama Tbk (RMBA) until the end of 2020 recorded a loss of IDR 2.67 trillion from previously posted a profit in 2019 of IDR 50.61 billion.

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