Market Prediction
Yesterday, JCI closed down 0.27% at the level of 6,625. The
stocks that weighed in on the index movement were:
BBRI, UNVR, TLKM. Meanwhile, the stocks that gains the
most are: EMTK, BUKA, TPIA.
The majority of US stocks closed higher overnight.
Monday's Dow Jones and S&P 500 set new records ahead
of earnings reports from major tech including Alphabet,
Amazon, Apple and Microsoft. Meanwhile, the Nasdaq's
gains were supported by Tesla after car rental company
Hertz announced it would order 100,000 Tesla vehicles.
JCI closed down with a bearish candle. The stochastic
indicator is weak, MACD histogram is positive but down
(line is weak) and volume is increasing. If JCI is in bearish
move again, it is expected to further weaken to support at
6,573 and support II at 6,536 (gap area). If JCI moves
bullish again, there is a chance to test the resistance at the
range of 6,673 – 6,687.
Commodities Review
- Gold prices rose nearly 1% in trading earlier this
week. Gold's gains were due to falling US bond
yields and continued concerns about inflation that
lifted safe-haven ahead of major central bank
meetings this week.
Macro Economic News
- Money Supply M2 in Indonesia increased to
7287300 IDR Billion in September from
7198900 IDR Billion in August of 2021.
- South Korea’s economy expanded by
0.3 percent on quarter in the three
months to September of 2021,
following a 0.8 percent growth in the
previous period and below market
expectations of a 0.6 percent rise, a
preliminary estimate showed.
Corporate news
- PT Itama Ranoraya (IRRA) for the January-September 2021 period successfully posted revenue of Rp.
1.09 trillion. It grew 671.1 percent compared to the same period last year of IDR 141.1 billion. As a result,
net profit also increased by 840.7 percent to IDR 84.9 billion from the same period last year of IDR 9.03
billion.
- PT Sariguna Primatirta Tbk (CLEO) achieved a net profit of IDR 136.59 billion in the first nine months of
2021, an increase of 44.6 percent compared to the same period in 2020 which was recorded at IDR
94.281 billion.
- PT Kedawung Setia Industrial Tbk (KDSI) posted a net profit of IDR 62.261 billion in the first nine months
of 2021, an increase of 37 percent compared to the same period in 2020 which amounted to IDR 45,462
billion.
- PT Mahaka Radio Integra Tbk (MARI) until the third quarter recorded a net loss of IDR 10,542 billion or
a decrease of 31.81 percent compared to the same period in 2020 which reached IDR 15,469 billion.
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
