Market Prediction

Today, JCI seems to be overshadowed by negative sentiment because the government may take some restrictions on activities to suppress the daily positive number of infections.

JCI closed down with a bearish candle. JCI breakdown to support at 5,972. The stochastic indicator is again bearish, MACD histogram is moving negative (line dead cross) and volume is down. JCI is still expected to continue its decline to support level at 5,884 & support II at 5,848. If it is able to strengthen the resistance should be at the range of 5,972 – 5,991.

Commodities Review

• Oil prices slipped in trading yesterday after hitting more than 2.5 year highs earlier in the session. A surge in Covid-19 cases in Asia put the brakes on the rally in oil prices ahead of the OPEC+ meeting due to take place this week.

Macro Economic News

• The Federal Reserve Bank of Dallas' general business activity index for manufacturing in Texas decreased by 3.8 points from the previous month to 31.1 in June 2021, moving further away from April's near three-year high of 37.3 but notably higher than its series average of 2.8 and indicative of greater activity.

Corporate news

• PT Visi Media Asia Tbk (VIVA) managed to cut losses in the first quarter of this year. VIVA in the first quarter of 2021 recorded a net loss of Rp 156.30 billion or a cut of up to 83.78% of the net loss in the same period the previous year of Rp 963.72 billion.
• During the first three months of 2021, PT Telkom Indonesia (Persero) Tbk (TLKM) posted revenues of Rp 33.95 trillion. This realization decreased slightly by 0.7% compared to revenue for the same period in 2020 which reached Rp 34.19 trillion.
• PT Resource Alam Indonesia Tbk (has achieved positive performance KKGI)during the first three months of 2021, which posted a net profit of US$ 1.97 million. In fact, in the first quarter of 2020, KKGI still suffered a net loss of up to US$ 3.62 million.
• PT Waskita Karya (Persero) Tbk (WSKT) recorded a net loss during the first quarter of 2021. WSKT posted revenue of Rp 2.67 trillion. This achievement decreased by 35.81% compared to the same period last year of Rp 4.16 trillion.

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