Market Review (Session 1)

In session 1, JCI closed with positive 1.51% at level of 6,086.95

Money Supply M2 in Indonesia increased to 6957300 IDR Billion in April from 6888026.50 IDR Billion in March of 2021.

Market Prediction (Session 2)

JCI : The index managed to strengthen and break the nearest resistance. The nearest support benchmark is at 6,070. As long as JCI stays above level 6,070, there is a chance to further strengthen for testing the resistance level at 6,114 and 6,134.

• ADRO : The price touched 1,215 (+2.33%) or 1 tick below the first target. The price still has the chance to strengthen again as long as it doesn't break down the support. Confirmation for the second bullish signal if the price manages to breakup to level of 1,305 and doesn't fall below it again. Be careful if the price go down below support level.
• EXCL : Price crossed the first target at 2,780 (+2.96%) and high at 2,800 (+3.7%) or 1 tick below the second target. The price has the opportunity to maintain the upward trend. If it manages to breakup to level 2,810, the next target will be at 2,920 & 2,960. Benchmark support is at 2,680. Be careful if the price moves back below level 2,680.
• MIKA : The price is corrected and still reasonable after a significant increase and is still within our buying range. The price is still likely to strengthen as long as it does not break down the support. Confirmation for the buy signal, wait for the price to be bullish again or breakup to level 2,840. Be careful if the price go down below support level.
• WOOD : The price is still corrected and within our buying range. The price is still likely to strengthen as long as it does not break down the support Confirmation for the buy signal, wait for the price to be bullish again. Be careful if the price went down below support level, it may continue to test support at 720.

News

• Blue Ocean Resources Pte Ltd, a subsidiary of PT Central Proteina Prima (CPRO) will receive a loan worth USD 79.58 million from DB, Lucro Investment VCC Lucra Investment Fund, and affiliated parties Investment Opportunities V Lte Ltd.
• PT Garuda Indonesia (Persero) Tbk (GIAA) suffered a net loss of USD 2.50 billion or equivalent to IDR 35 trillion (exchange rate of Rp. 14,000). Compare this to 2019, which still scored a net profit of USD 6.99 million (IDR 98 billion).

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