Market Review (Session 1)

In session 1, JCI closed with negative 0.74% at level of 6,025.25

Foreign Exchange Reserves in Indonesia decreased to 136400 USD Million in May from 138800 USD Million in April of 2021.

Market Prediction (Session 2)

JCI : The index is moving down and is in the range of our support flow. If JCI does not return above level 6,033, it could fall first to close the gap area at the range of 5,947 – 5,991.

• ASSA : Price managed to reach the second target at 2,250 and the highest at 2,290 (+5.04%). The price still has the chance to continue strengthening as it is able to stay above level 2,250 and is supported by increased volume. The next target is at 2,330 – 2,350. The benchmark for immediate support is at 2,210 and support II is at 2,180.
• EXCL : The price failed to break and breakdown below support. The price formed a double top pattern which indicates the decline could continue. If it does not return above the level of 2,480, the price may continue to decline to support at 2,410 and support II at 2,320. We suggest may use buy on weakness strategy in the support area.
• KIJA : The price is still corrected and within our buying range. The price still has a chance to strengthen as long as it maintain above support. For further buy confirmation, wait for the candle to become bullish or breakup to levels of 218 – 220. Be careful if the price went down below support level.
• MNCN : Price is in correction and went down below support. The bearish tolerance is at 965 as support. As long as it doesn't move back below 965, the price still has a chance to transition back into an uptrend. Be careful if the price went below level 965, it could continue to decline.

News

• PT Buana Lintas Lautan Tbk (BULL) managed to achieve a net profit of USD 37.8 million in 2020, an increase of 78.3 percent, compared to 2019 which was recorded at USD 21.2 million.
• PT Prima Cakrawala Abadi (PCAR) throughout 2020 recorded net sales of Rp. 46.60 billion. Decreased from the same period in 2019 with a collection of net sales of Rp. 62.72 billion.

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