Market Prediction

Today, JCI has the opportunity to strengthen. Meanwhile, the sentiment that could influence the index is the agenda of RDG Bank Indonesia meeting tomorrow to decide the direction of 7Days RR interest rate policy.

JCI closed higher with a bearish candle. The stochastic indicator is bullish, MACD histogram is moving positive again (line golden cross) and volume is decreasing. JCI has the potential to further strengthen to test resistance level at 6,115, if it manages to break it, it can continue to level of 6,143. Meanwhile, if JCI moves in the bearish candle again, it can return to test support levels of 6,050 - 6,060.

Commodities Review

• Oil prices closed slightly lower in trading this weekend. However, oil remains secure weekly gains on the prospect of stronger demand and signs of economic recovery in China and the United States (US) that offset concerns about rising Covid-19 infections in other major economies.
• The price of gold reached its highest level in seven weeks on the trading weekend. Even now, gold is on track for its best week since mid-December, supported by a weaker United States dollar (US) and a sharp drop in yields US Treasury In the previous session.

Macro Economic News

• The Chinese economy grew by a seasonally adjusted 0.6 percent on quarter in the three months to March 2021, following an upwardly revised 3.2 percent advance in the previous quarter and less than market expectations of a 1.5 percent expansion.
• China's retail trade rose 34.2 percent year-on-year in March 2021, the largest annual increase since January 1995 and well above market expectations of a 28 percent growth.

Corporate news

• PT Mitra Adiperkasa Tbk (MAPI) posted that the company's net income in 2020 decreased by 31.4% to IDR 14.8 trillion compared to 2019.
• PT Jaya Sukses Makmur Sentosa Tbk (RISE) obtained a credit facility from PT Bank Central Asia Tbk (BBCA) with a credit limit of Rp 100 billion.
• PT Sampoerna Agro (SGRO) suffered a loss of IDR 201.42 billion in 2020, inversely proportional to a profit of IDR 33.15 billion in 2019.
• PT Adi Sarana Armada Tbk (ASSA) throughout 2020 only posted a net profit of IDR 87.147 billion at the end of 2020, or down 20.9 percent, compared to the end of 2019, which recorded a net profit of Rp 110.4 billion.

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