Market Prediction

In Wall Street stock exchange trading last night, the three major indexes which are Dow Jones, S&P and Nasdaq closed dropping. The decline in all three indexes was due to President Joe Biden's plans to improve the tax system for the rich and big corporations to pay more taxes to help meet the country's needs in Biden's ambitious economic agenda. If the tax rate is implemented it will be the largest tax rate.

Today, JCI is still overshadowed by various concerns by market players.

JCI closed slightly higher with a bearish candle. The stochastic indicator is bearish, MACD histogram is down (line flat) and volume is increasing. JCI has the potential to strengthen up to the resistance at the range of 6,025 - 6,045. If JCI moves again to bearish candle and breakdown below the level of 5,980, it will continue to decline to the gap area or support levels of 5,944 - 5,962.

Commodities Review

• Gold prices fell on Thursday (22/4). Retreating from two-month highs on upbeat United States jobs report, signaling a steady economic recovery is hurting the metal's appeal.

Macro Economic News

• The number of Americans filing new claims for unemployment benefits dropped to 547 thousand in the week ending April 17th, the lowest level since March 2020, when mandatory closures of non-essential businesses were enforced across many states to curb the spread of COVID-19.

Corporate news

• PT Bumi Serpong Damai Tbk (BSDE) posted pre-sales revenue (marketing sales) of Rp 2.5 trillion in the first three months of 2021. This achievement is equivalent to a growth of 38% compared to last year's share period.

• PT Bank Central Asia Tbk (BBCA) and its subsidiaries recorded solid financial performance in the first quarter of 2021, recording a net profit of IDR 7 trillion, growing 7.0% on an annual basis (YoY).

• Until the first quarter of 2021, PT Itama Ranoraya Tbk (IRRA) managed to book a total company revenue of IDR 228.17 billion or an increase of 754.1% compared to revenue in the same period last year of IDR 26.71 billion.

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