Market Prediction

Today, JCI has the opportunity to strengthen. However, there is negative sentiment from Janet Yellen's statement which signals that an increase in interest rates is needed to maintain economic growth and avoid overheating, this may be one of the pressures for the index movement today.

However, JCI in the medium-term trend is still in a sideways condition, but it has touched the long-term trendline support.

JCI closed higher with a bullish candle. Stochastic indicator is neutral, MACD histogram is positive but down (line flat) and volume is down. JCI has a chance to strengthen again to the resistance levels of 6,004 - 6,019, if it is able to break up to level 5,974. If it is bearish again, JCI will go to the support at the range of 5,911 - 5,932.

Commodities Review

• Oil prices strengthened after more states in the United States (US) relaxed their lockdowns. The same thing happened in the European Union which is trying to attract tourists. This has succeeded in helping negative sentiment over fears of reduced demand for fuel after the spike in Covid-19 cases in India.

Macro Economic News

• The annual inflation rate in South Korea increased to 2.3 percent in April of 2021 from 1.5 percent in the previous month and beating market estimates of a 2.2 percent gain.
• The trade deficit in the US widened to a new record of USD 74.4 billion in March 2021, from a revised USD 70.5 billion in the previous month and compared with market expectations of a USD 74.5 billion gap.

Corporate news

• PT Sillo Maritime Perdana Tbk (SHIP) formed a joint venture last Friday (30/4) through its subsidiary PT Benua Sukses (SBS), SHIP established a joint venture with equity in PT Suasa Crystal Lautan.
• PT Bumi Serpong Damai Tbk (BSDE) managed to record a net profit of Rp 588.29 billion in the first three months of 2021, an increase of 126.58% when compared to the same period in 2020, which was Rp 259.65 billion. .
• PT Selamat Sempurna Tbk (SMSM) made an unsatisfactory performance throughout 2020 which posted net sales of Rp. 3.23 trillion. This gain shrank 17.83% on an annual basis or yoy from the realization in 2019 which reached Rp 3.93 trillion.
• PT Tunas Baru Lampung Tbk (TBLA) until the first quarter of 2021 achieved a net profit of Rp. 174.54 billion, an increase of 72.27 percent compared to the first quarter of 2020 which was recorded at Rp. 101.41 billion.

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