Market Prediction

In yesterday's trading, JCI closed flat at 6,069 or rose only 0.08%.

Meanwhile, the majority of Wall Street index weakened as the market was waiting for the next steps that policy makers might take. Currently, the political condition in the US tends to be less stable due to the opposition between the US Republican Party against Yellen's G7 tax deal.

JCI closed slightly higher to the level of 6,069 with a bearish candle. The stochastic indicator is in the overbought area, MACD histogram is moving positive (bullish line) and volume is increasing. JCI is still moving to form an inside bar candle in the range of 6,043 – 6,103. If it moves bullishly, JCI has the chance to strengthen again to the resistance at the range of 6,103 - 6,115. If it returns to bearish and moves below level 6,050, JCI could first drop to the support at the range of 6,005 – 6,033.

Commodities Review

• Oil prices fell in late trading Monday, after touching a two-year high, on expectations of increased demand and OPEC producers keeping supply curbs unchanged.

Macro Economic News

• China's trade surplus was at USD 45.5 billion in May 2021, below market consensus of USD 50.5 billion and compared with a surplus of USD 61.9 billion in the same month a year earlier, amid an improving global demand and higher commodity prices.

Corporate news

• PT Tower Bersama Infrastructure Tbk (TBIG) posted revenue of Rp 1.42 trillion in the first quarter of 2021. This income increased by 12.7% compared to the realization of revenue in the first three months of 2020 which amounted to Rp. 1.26 trillion.
• PT Indointernet Tbk (EDGE) has made additional equity participation in its subsidiary, namely PT Ekagrata Data Gemilang (EDG) of Rp 350 billion.
• PT Limas Indonesia Makmur (LMAS) throughout 2020 collected sales of IDR 102.7 billion. Experiencing a correction from the same period in 2019 in the range with sales of Rp. 162.94 billion.
• PT Link Net (LINK) throughout the first quarter of 2021 recorded revenue of Rp. 1.07 trillion. This result is an increase from the same period in 2020 with a collection of revenues of Rp. 958.99 billion. Gross profit rose to Rp 853.75 billion from gross profit of Rp 748.20 billion.

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