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PREPARING FOR HOLIDAY

MORNING DEW - 20 JUNE 2017 (By Christian Saortua)

Composite index gained 18.27 pts (+0.32%) and closed at 5741.91 on Monday after sudden drop at previous trading day. But trading value was at IDR 5.2 Trillion, relatively low compare to daily average. This is not surprising as we heading to long holiday and the market will close for a whole week on next week.

For today, we still see that the index will move soft as trading will dominated by traders who want to cash out their investment. The trader who using margin to trade also have to close their position to avoid penalty and thus we predict will pressure the price. But overall, we still see that there will not significant sentiment which can trigger the market for today.

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

  • Oil prices inched up from seven-month lows in Asian trading on Tuesday, but gains were limited as investors focused on persistent signs of rising supply that are undermining attempts by OPEC and other producers to support prices. (Source: Reuters)
  • U.S. stocks rose on Monday, with the S&P 500 and the Dow hitting record highs with growth sectors such as technology in favor again. (Source: Reuters)
  • Vice-Chair Stanley Fischer speaks tomorrow, as Fed speakers dominate the week. (Source: Bloomberg)

TECHNICAL ANALYSIS FOR TODAY (By Christian Saortua)

COMPOSITE INDEX

JCI is predicted to move around 5,720 – 5,760 today’s.

BEARSIH: Small white candle with body not made it to the half of previous black candle. Yesterday support unable to bring back the index to a strong bullish. MACD bar and Stochastic indicator also pointing down. This could tell that bearish trend might continue today.

TRADING IDEAS: SSIA, ADRO, MIKA & JSMR

Disclaimer

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