Market Prediction

Last Friday's trading, JCI closed up 0.11% to 6,562.90. Foreign market players recorded a net buy of IDR 205.5 billion (all market).

Wall Street's main indexes are closed on last Friday.

Today's market has a chance to strengthen again to the nearest resistance amid increasing negative sentiment in the case of Omicron in Indonesia.

JCI closed higher with a bullish candle. The stochastic golden cross indicator, MACD histogram is moving in a positive direction (the line is weak) and volume is falling. If JCI moves bullish, there is a chance to strengthen to the resistance at the range of 6,592 – 6,609. If JCI moves bearish candle, it can continue to test support levels at the range of 6,529 – 6,544.

Commodities Review

• Crude oil price continued it’s three-day rally on Friday in light trading before the Christmas holidays, with the market focusing on next steps by OPEC+ and the impact of the Omicron variant.

Macro Economic News

• Japan's consumer prices rose 0.6% YoY in November 2021, the most in nearly two years and compared with a 0.1% gain a month earlier.

Corporate news

• Delta Dunia Makmur (DOID) acquired assets and various elements of the Mining East Australia business segment belonging to one of the Australian mining services giants, Downer EDI Mining Pty. Ltd. (DEM). The transaction was carried out by Delta Dunia Makmur via BUMA Australia Pty Ltd. The acquisition value of the subsidiary, Downer Edi Limited (DEL), is worth USD 104.39 million or AUD 138.64 million.
• PT Garuda Maintenance Facility Aero Asia Tbk (GMFI) managed to record a significant improvement in the profitability aspect in the third quarter of 2021 as seen in the September YTD operating loss which could be reduced to 75.7% year on year (YoY).
• PT Reliance Sekuritas Indonesia Tbk (RELI), recorded a drastic increase in net profit for the year adjusted for the 9M2021 period of IDR 25.8 billion compared to the previous 9M2020 period of IDR 6.9 billion or a growth of 273.9% year on year (YoY).

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