Market Prediction
At the beginning of the week, JCI fell 0.34% to the level of
6,459. Market players took profit-taking.
Meanwhile, from Wall Street stock market, all three
indexes ended in decline as soaring crude oil prices
triggered concerns about inflation and tighter monetary
policy, lifting the dollar to an almost three-year high
against the yen.
Other sentiment also came from the wait-and-see
movement from investors focusing on the start of next
week's US corporate earnings season.
JCI closed down with a bearish candle. The stochastic
indicator has a potential dead cross, MACD histogram is
positive but down (bullish line) and volume is down. JCI
failed to break resistance or false break. If JCI moves
bearish and breakdown below level 6,458, JCI is expected
to continue down towards the support at the range of
6,392 – 6,416. On the other hand, if it is able to move
bullishly, there is a chance to retest the resistance levels
at the range of 6,506 - 6,514.
Commodities Review
- Oil prices soared to their highest level in years on
Monday (11/10). Driven by a rebound in global
demand that has contributed to electricity and gas
shortages in major economies such as China.
Macro Economic News
- Retail sales in Indonesia dropped by 2.1
percent year-on-year in August of 2021,
after a 2.9 percent fall a month earlier.
Corporate news
- PT Zebra Nusantara Tbk (ZBRA) achieved a good performance from January-September 2021. ZBRA
recorded revenues of up to IDR 2.74 trillion or increased 30,039% from the same period the previous
year which was only IDR 8.86 billion.
- PT Bukit Makmur Mandiri Utama (BUMA), a subsidiary of PT Delta Dunia Makmur Tbk (DOID) has
reportedly purchased an Australian mining contractor. BUMA reportedly bought Open Cut Mining East
for AU$ 150 million or the equivalent of US$ 110 million.
- As of semester I-2021, PT Media Nusantara Citra (MNCN) posted operating revenues of IDR 4.86 trillion.
This number increased by 23% from the same period the previous year which amounted to IDR 3.96
trillion.
- PT Ciomas Adisatwa (Ciomas), a subsidiary of PT Japfa Comfeed Indonesia Tbk (JPFA) has returned to
export poultry products. Starting the 4th quarter of 2021, Ciomas has succeeded in carrying out the first
export of processed chicken products to Papua New Guinea (PNG), which is a new market for JAPFA.
PT Kiwoom Sekuritas Indonesia (KSI)
Treasury Tower 27th Floor Unit A, District 8 Kawasan SCBD Lot 28
Jl.Jend.Sudirman Kav 52-53, Jakarta Selatan 12190
Telp : +62 21 5010 5800
Fax. +62 21 5010 5820
Website : www.kiwoom.co.id
