Market Prediction

Today, JCI has a technical opportunity to test resistance at the level of 5,966. However, JCI is still overshadowed by various negative sentiments regarding market concerns over Covid-19 case which may increase after Eid celebrations due to a surge in the number of visitors at various tourist attractions and sentiment from the government's decision to stop using astraZeneca vaccine batch-ctmav547.

In addition, from external factors, inflation in United States is rapidly rising, amid US unemployment data that is higher than analysts forecast. This affects the inflow of funds by foreign investors to enter Indonesian equity market amidst US economy's rapid recovery. Meanwhile, Indonesia still needs time to recover the economy for longer time.

JCI closed down with a bearish candle. The stochastic indicator is weakening, MACD histogram is positive but down (flat line) and volume is slightly increasing. JCI has the potential for a test resistance at level of 5,966, if it breaks up, it can continue to resistance at 5,985. If JCI moves in a bearish candle, support level is at the range of 5,892 - 5,911.

Commodities Review

• Gold prices extended gains on Friday (14/5). Supported by a pullback in the United States dollar (US) and US Treasury yields after US retail sales data unexpectedly halted in April.

Macro Economic News

• Retail sales in the US unexpectedly stalled in April of 2021, disappointing markets that expected a 1% increase. It follows an upwardly revised 10.7% surge in March when the first round of stimulus checks was sent to most households.

Corporate news

• PT Harum Energy Tbk (HRUM) recorded a sales volume of 0.8 million tonnes of coal during the first quarter of 2021. This realization was almost double the sales volume in the fourth quarter of 2020, but was 13.4% lower than the sales volume in the first quarter of 2020. .
• PT Boga MAP MAP Tbk(MAPB) posted a less than satisfactory performance. MAPB posted a decrease in net sales of up to Rp 18.62% year on year (yoy) to Rp 551.64 billion in the first quarter of 2021. Whereas in the first quarter of last year, MAPB could score sales of up to Rp 677.84 billion.
• PT Trisula International Tbk (TRIS) experienced a decline in revenue and net profit in the first quarter of 2021. TRIS's revenue in the first quarter was recorded at Rp 256.46 billion or decreased by 25.46% on an annual basis (yoy) from Rp 344.04 billion. Meanwhile, net profit decreased by 70.02% yoy from Rp 4.27 billion to Rp 1.29 billion.
• PT Trisula Textile Industries Tbk (BELL) recorded an unsatisfactory performance. BELL recorded net sales of Rp. 111.14 billion as of March 31, 2021, this figure shrank by 29.53 percent from Rp. 157.71 billion in the same period the previous year.

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