Market Prediction

Today, JCI was overshadowed by the action of taking profits from market players. As for the long term, JCI is still in a sideways condition.

JCI closed slightly higher with a bullish candle. The stochastic indicator has the opportunity for a golden cross, MACD histogram is positive (line golden cross) and volume increases. JCI has the potential to strengthen again to the resistance at the range of 6,045 - 6,080. If JCI moves again to bearish candle and breakdown below level 5,980, JCI will continue to decline to the gap area or support at the range of 5,973 - 5,989.

Commodities Review

• Oil prices closed higher on Friday, supported by bullish economic data from the United States (US) and Europe. However, within a week, prices were still pressured by the increase in corona virus cases in India.
• Improving economic data from the United States (US) made gold prices weaken at the end of last week. However, within a week, spot gold prices still edged up due to the weakening position of the US dollar.

Macro Economic News

• Money Supply M2 in Indonesia decreased to 6761000 IDR Billion in January of 2021 from 6900000 IDR Billion in December of 2020.
• Japan's consumer prices declined by 0.2 percent year-on-year in March 2021, after a 0.4 percent drop in the previous month. This was the sixth straight month of decrease in consumer prices but the least in the sequence, as the COVID-19 pandemic weighs on household spending.
• The United Kingdom’s GfK Consumer Confidence index rose to -15 in April of 2021 from -16 in the previous month and compared with a market consensus of -12.

Corporate news

• Over the past year, PT Pelita Samudera Shipping Tbk (PSSI) has successfully booked total audited revenue as of December 31, 2020 of US$ 68.4 million. This income decreased by 9% from the same period in 2019 of US$ 75.3 million.
• PT Bank Tabungan Negara (Persero) Tbk (BBTN) made a positive performance in the first quarter of 2021 which posted a net profit of Rp 625 billion, or grew 36.75% on an annual basis (year-on-year/ yoy).
• PT Garuda Metalindo Tbk (BOLT) recorded sales of IDR 788.87 billion in 2020. This number decreased 34.63% (yoy) compared to sales in 2019 of IDR 1.20 trillion.
• PT Indocement Tunggal Prakarsa Tbk (INTP)’s cement sales starting to improve. In March 2021, INTP recorded sales of 1.4 million tons. This amount is 200,000 tons more than the previous month's achievement.
• PT Surya Esa Perkasa Tbk (ESSA) posted good performance during the first three months of 2021. ESSA posted a net profit of US$ 6.40 million, or an increase of 520% from the realized net profit in the same period the previous year which was only US$ 1.03 million.

PT Kiwoom Sekuritas Indonesia (KSI)

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