Market Prediction
Yesterday's trading, JCI closed down by 0.91% to
6,493.27. Inline with the movement of the major Asian
indexes, the majority of which closed in the negative
zone. The weakening occurs because market players
tend to wait for the results of the FOMC meeting later.
From foreign market players, netsell actions worth
145.03 billion (all markets).
Wall Street's main stock exchange closed positive again.
The S&P is back on record amid key Fed decisions and the
release of strong corporate earnings continues to give
investors confidence.
JCI closed down again with a bearish candle and broke
down again to level 6,509. The stochastic indicator is
weak again, MACD histogram is moving negative (line is
weak) and volume is falling. If JCI moves bearish again
and breaks down to level 6,480, JCI is expected to
continue down towards the support at the range of 6,416
– 6,436. If JCI is able to strengthen and can return above
level 6,509, JCI has the chance to move to the resistance
at the range of 6,524 – 6,552.
Commodities Review
- Gold prices fell on Tuesday (2/11) as the US
dollar and Wall Street strengthened. Ahead
of the Federal Reserve meeting which may
provide a timeline for rate hikes amid rising
inflationary pressures.
Macro Economic News
- Inflation Rate in South Korea increased to
3.20 percent in October from 2.50 percent
in September of 2021.
- The IBD/TIPP Economic Optimism Index in
the US fell for the 5th straight month to 43.9
in November of 2021, the lowest since
September of 2015, and just undercut the
prior pandemic low of 44 in July 2020, as the
second Covid wave was hitting.
Corporate news
- PT Cemindo Gemilang Tbk (CMNT) achieved a good performance, which posted a net profit of IDR
333.77 billion as of the end of September 2021. This realization rose 6.995% from net profit in the same
period last year which was only IDR 4.70 billion.
- PT Mayora Indah Tbk (MYOR) posted an increase in sales performance in the third quarter of this year
which managed to record an increase in sales of 13.12% yearly or yoy. Mayora Indah's sales were
recorded at IDR 19.88 trillion. This number increased from IDR 17.58 trillion printed in the same period
last year.
- PT Matahari Department Store Tbk (LPPF) was able to score a positive financial performance even
though in the third quarter of 2021 it recorded gross sales of IDR 7.50 trillion throughout the year (year
to date / ytd) until the end of the third quarter of 2021. Gross sales grew by 28 percent when compared
to the same period in the previous year.
- PT Wintermar Offshore Marine Tbk (WINS) posted a net profit in the first nine months of 2021,
amounting to US$ 0.49 million or reverse from a loss of US$ 7.44 million in the same period the previous
year.
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
