Market Prediction

Today, JCI has the opportunity to continue strengthening. The positive sentiment still seems to be due to the release of Indonesia's balance of trade data which recorded a surplus, although this figure is somewhat lower than the previous period, the data is better when viewed based on Indonesia's export and import growth figures.

On the other hand, Wall Street stock markets closed higher with almost a total increase of over 1%. The increase that occurred on wall street index was due to the release of US retail sales data which experienced the biggest increase in 10 months, as well as the decline in weekly jobless claims.

JCI closed higher with a bullish candle. The stochastic golden cross indicator, MACD histogram is moving positive again (line golden cross) and volume decreases. JCI has the potential to further strengthen to test resistance level of 6,113, if it manages to break it, it can continue to level 6,143. Meanwhile, if the bearish candle moves again, JCI can return to test support at the range of 5,982 - 6,001.

Commodities Review

• Crude oil prices rose to the highest level in four weeks in the previous session. Positive sentiment came from positive United States (US) economic data and higher demand forecasts from the International Energy Agency (IEA) and OPEC as countries begin to recover from the Covid-19 pandemic.
• The price of gold peaked for more than a month at the end of the previous trading session. The main catalyst for gold came after yields US Treasury slipped with better-than-expected United States economic data, prompting investors to turn to precious metals as protection against a possible spike in inflation.

Macro Economic News

• Indonesia's trade surplus widened to USD 1.56 billion in March of 2021 from USD 0.72 billion in the same month of the previous year but slightly below market consensus of USD 1.64 billion.
• Imports to Indonesia jumped 25.73% yoy to USD 16.79 billion in March 2021, easily beating market estimated of a 6% gain and after a 14.86% growth a month earlier.

Corporate news

• PT Jembo Cable Company (JECC) recorded a net profit of Rp. 11,924 billion at the end of 2020. Dropped of 89.21 percent compared to the end of 2019 of Rp. 102.51 billion.
• PT Argha Karya Prima Industry (AKPI) recorded a net profit of IDR 66.015 billion at the end of 2020. Up 21.43 percent compared to the end of 2019 of IDR 54.364 billion.
• PT Sreeya Sewu Indonesia (SIPD) throughout 2020 pocketed a net profit of IDR 28.26 billion. Reduced 64.55 percent from the same period in 2019 with a net profit of IDR 79.77 billion.
• PT Ciputra Development Tbk (CTRA) recorded an increase in profit in 2020 of IDR 1.32 trillion or an increase of 14.05 percent compared to the previous year IDR 1.15 trillion.

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