Market Prediction

Yesterday's trading, JCI closed lower by 0.53% to 6,616.03. Foreign market players recorded a net sale again worth of IDR 678.61 billion (all market).

Wall Street's main indexes closed lower due to US Treasury yields reversed and climbed higher, then investors awaited the quarterly report on retail sales.

JCI successfully closed down with a bearish candle. The stochastic indicator is bearish, MACD histogram is moving in a positive direction (sloping line) and volume is falling. If JCI moves bearish, JCI can go down first to support I at 6,585. If JCI breaks down from that support I, it will continue to go down to level 6,550. If JCI moves bullish again, there is a chance to further strengthen to the resistance level of 6,646 – 6,675.

Commodities Review

• Oil prices started this week moving in the red zone, continuing the bearish trend since last weekend because the US is expected to soon release its strategic reserves which have the potential to increase US oil reserves.

Macro Economic News

• Indonesia's trade surplus widened to a record of USD 5.74 billion in October of 2021 from USD 3.58 billion in the same month of the previous year and above market consensus of USD 3.87 billion.
• China's retail sales rose by 4.9 percent year-on-year in October 2021, faster than a 4.4 percent increase in the previous month and beating market expectations of 3.5 percent.
• The Japanese economy shrank 0.8 percent qoq in Q3 2021, compared with market expectations of a 0.2 percent fall and after a downwardly revised 0.4 percent growth in Q2, amid a resurgence of COVID-19 cases and persistent global supply chain disruptions, preliminary data showed.

Corporate news

• PT Siantar Top Tbk (STTP) managed to record an increase in sales until the third quarter of this year. As of September 30, 2021, STTP's net sales grew 8.05% to IDR 3.04 trillion. Previously, Siantar Top's net sales only reached IDR 2.81 trillion as of September 30, 2020.
• PT Catur Sentosa Adiprana Tbk (CSAP) until September 2021 CSAP recorded net sales of IDR 9.91 trillion. It grew by 14.17% compared to the achievement in Q3-2020 which was IDR 8.68 trillion.
• PT Bank Multiarta Sentosa Tbk (MASB) until the third quarter of 2021 posted a net profit of IDR 150.45 billion, an increase of 97.36 percent compared to the same period in 2020, which was recorded at IDR 76.694 billion.
• PT Pelayaran Nelly Dwi Putri Tbk (NELY) until the third quarter of 2021 posted a net profit of IDR 34.985 billion or grew by 19.11 percent compared to the same period in 2020, which was recorded at IDR 29.372 billion.

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