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CALMER WEEK

MORNING DEW - 19 JUNE 2017

Composite index drops for two consecutive days after fell 52.65 pts (-0.91%) on Friday. The index closed at 5,723.64 with total transaction valued at IDR 10.7 Trillion. Foreign shown an opposite movement on Friday by booking a net buy IDR 200.06 Billion. This is ending the continuing net sell since June 12th and bring a fresh sentiment to the market.

While this week is predicted to be calmer as we welcoming Ramadan Holiday and the market is going to be closed from June 23rd – 29th. We predict that there will be a profit taking in the market as trader cashing out their position and fund manager is anticipating redemption due to holiday.

Meanwhile, here are the things you need to know for today.

  • Stocks in Asia rose, with a weaker yen supporting Japanese equities, while South Korean and Australian shares also pushed higher. (Source: Bloomberg)
  • West Texas Intermediate crude oil slid 0.3 percent to $44.63 a barrel on Monday opening and Gold was steady at $1,253.64 an ounce.

TECHNICAL ANALYSIS FOR TODAY

COMPOSITE INDEX

JCI is predicted to move around 5,730 – 5,830 today’s.

BEARSIH: The chart is having a correction and shows a doji candle with long tail above. The price is trying to recover but failed to do so. Trading volume also lower suggesting traders are still wait and see for composite direction.

TRADING IDEAS : SSIA, ADRO, MIKA & jsmr

Disclaimer

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