Market Prediction

In the last trading day ahead of the long holiday, JCI seems to be overshadowed by profit taking. On Monday, JCI closed up 0.80%.

Meanwhile, from the development of Covid-19 case, WHO is currently raising the level to become a "global threat" for a variant of the virus originating from India.

JCI closed higher with a bullish candle (inside bar candle). The indicator is stochastic golden cross, MACD histogram is positive (line is bullish) and volume is down. JCI has the potential for testing resistance level at 6,005, if it breaks up, it can continue to the resistance level at 6,027. If JCI moves in a bearish candle, support levels are at the range of 5,941 - 5,950.

Commodities Review

• Crude prices closed slightly higher earlier this week after the operator of a major US fuel pipeline said most pipelines could restart within a week of cyber attacks that forced a shutdown last weekend.
• Spot gold prices closed higher and held near their highest level in three months on Monday. The main catalyst for the price of gold came after the United States (US) job growth figures released last week weighed on the US dollar and boosted expectations that interest rates will remain low.

Macro Economic News

• Indonesia's consumer confidence index increased 7.6 points to a 13-month high of 101.5 in April from 93.4 in the previous month, and flipping back into the positive territory for the first time since March 2020, amid the massive COVID-19 vaccination program.
• The Halifax house price index in the United Kingdom rose 8.2 percent from a year earlier in April 2021, the most since April 2016, as the market continued to maintain its recent momentum and as the Stamp Duty holiday was extended beyond its March deadline.

Corporate news

• PT Wintermar Offshore Marine Tbk (WINS) recorded revenues of US $ 10.2 million recorded in the first quarter of 2021 or still 21% below the level of US $ 12.9 million from the achievements in the same period last year.
• PT Intiland Development Tbk (DILD) posted an annual increase in revenue of 5.7% (yoy) in 2020 to Rp 2.9 trillion from the previous Rp 2.7 trillion.
• PT Sekar Laut Tbk (SKLT) made a great performance in the first three months of this year. SKLT was able to book a 2.06% increase in net income on an annual basis (yoy) to Rp 336.72 billion in the first quarter of 2021.
• PT Saraswanti Anugerah Makmur Tbk (SAMF) recorded revenue in the first quarter of 2021 which reached Rp 296.72 billion, an increase of 14.03% compared to the same period in 2020 which amounted to Rp 260.22 billion.

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