The JCI June 08, 2020
Jᴜɴᴇ 8, 2020
* Tʜᴇ JCI ᴛʀᴀᴅɪɴɢ ʀᴀɴɢᴇ: 4,900ᴘᴛ – 5,100ᴘᴛ (Yᴇsᴛᴇʀᴅᴀʏ ᴄʟᴏsᴇ: 4,948ᴘᴛ)
* Wᴀʟʟ Sᴛʀᴇᴇᴛ ᴄʟᴏsᴇᴅ ᴡɪᴛʜ ᴀ ʟᴇᴀᴘ ᴏꜰ ᴄ.3% ᴏɴ ᴜɴᴇxᴘᴇᴄᴛᴇᴅ ᴘᴏsɪᴛɪᴠᴇ ᴅᴀᴛᴀ ᴏꜰ ᴛʜᴇ Uɴɪᴛᴇᴅ Sᴛᴀᴛᴇs (US) ᴊᴏʙ ɢʀᴏᴡᴛʜ ᴅᴀᴛᴀ
* Tʜᴇ JCI ɪs ᴇxᴘᴇᴄᴛᴇᴅ ᴛᴏ sʜᴀʀᴇ ᴘᴏsɪᴛɪᴠᴇ ᴇᴜᴘʜᴏʀɪᴀ ᴀs ᴛᴏᴅᴀʏ ᴍᴀʀᴋs ᴛʜᴇ ʀᴇ-ᴏᴘᴇɴɪɴɢ ᴏꜰ sᴇᴠᴇʀᴀʟ ʙᴜsɪɴᴇssᴇs ɪɴ Jᴀᴋᴀʀᴛᴀ
Morning,
The Jakarta Composite Index (JCI) today (8/6) is expected to be in the range of 4,900pt – 5,100pt also supported by the appreciating trend of USDIDR and oil price. Meanwhile in Wall Street on Friday last week (5/6) the DJIA closed higher at 26,282 or by 829 points or 3.2% while the S&P500 and the Nasdaq both ended higher by 2.6% and 2.1%, respectively. The US Labor Department released job growth data for the month of May at an addition of 2.5mn jobs against market consensus of a contraction of 8mn jobs. The data release spurred buyings, among other.
At the other end, Friday the WTI price closed higher at USD39.6/barrel or by 5.7% against the previous close ahead of OPEC plus meeting this Saturday. Meanwhile the USDIDR closed higher at IDR14.100 vs. IDR14.165 the previous one.
We advise the following recommendation as for now, for both trading and longer-time investment purpose. 𝐀𝐀𝐋𝐈, 𝐋𝐒𝐈𝐏 (𝐬𝐞𝐜𝐭𝐨𝐫 𝐨𝐟 𝘈𝘨𝘳𝘪, 𝐚𝐥𝐥𝐨𝐜𝐚𝐭𝐢𝐨𝐧 𝐬𝐮𝐠𝐠𝐞𝐬𝐭𝐢𝐨𝐧 𝘜𝘯𝘥𝘦𝘳𝘸𝘦𝘪𝘨𝘩𝘵 ), 𝐔𝐍𝐓𝐑, 𝐈𝐓𝐌𝐆, 𝐀𝐃𝐑𝐎, 𝐏𝐓𝐁𝐀 (𝐬𝐞𝐜𝐭𝐨𝐫 𝐨𝐟 𝘊𝘰𝘢𝘭 𝘔𝘪𝘯𝘪𝘯𝘨, 𝐚𝐥𝐥𝐨𝐜𝐚𝐭𝐢𝐨𝐧 𝐬𝐮𝐠𝐠𝐞𝐬𝐭𝐢𝐨𝐧 𝘔𝘢𝘳𝘬𝘦𝘵-𝘸𝘦𝘪𝘨𝘩𝘵), 𝐆𝐆𝐑𝐌, 𝐔𝐍𝐕𝐑, 𝐈𝐂𝐁𝐏 (𝐬𝐞𝐜𝐭𝐨𝐫 𝐨𝐟 𝘊𝘰𝘯𝘴𝘶𝘮𝘦𝘳, 𝐚𝐥𝐥𝐨𝐜𝐚𝐭𝐢𝐨𝐧 𝐬𝐮𝐠𝐠𝐞𝐬𝐭𝐢𝐨𝐧 𝘖𝘷𝘦𝘳𝘸𝘦𝘪𝘨𝘩𝘵 ), 𝐀𝐒𝐈𝐈 (𝐬𝐞𝐜𝐭𝐨𝐫 𝐨𝐟 𝘈𝘶𝘵𝘰𝘮𝘢𝘵𝘪𝘷𝘦, 𝐚𝐥𝐥𝐨𝐜𝐚𝐭𝐢𝐨𝐧 𝐬𝐮𝐠𝐠𝐞𝐬𝐭𝐢𝐨𝐧 𝘔𝘢𝘳𝘬𝘦𝘵-𝘸𝘦𝘪𝘨𝘩𝘵), 𝐚𝐧𝐝 𝐀𝐂𝐄𝐒, 𝐒𝐂𝐌𝐀, 𝐌𝐀𝐏𝐈 (𝐬𝐞𝐜𝐭𝐨𝐫 𝐨𝐟 𝘛𝘳𝘢𝘥𝘦, 𝐚𝐥𝐥𝐨𝐜𝐚𝐭𝐢𝐨𝐧 𝐬𝐮𝐠𝐠𝐞𝐬𝐭𝐢𝐨𝐧 𝘖𝘷𝘦𝘳𝘸𝘦𝘪𝘨𝘩𝘵),𝐚𝐧𝐝 𝐓𝐊𝐈𝐌 (𝐬𝐞𝐜𝐭𝐨𝐫 𝐨𝐟 𝘉𝘢𝘴𝘪𝘤 𝘐𝘯𝘥𝘶𝘴𝘵𝘳𝘺, 𝐚𝐥𝐥𝐨𝐜𝐚𝐭𝐢𝐨𝐧 𝐬𝐮𝐠𝐠𝐞𝐬𝐭𝐢𝐨𝐧 𝘔𝘢𝘳𝘬𝘦𝘵-𝘸𝘦𝘪𝘨𝘩𝘵).
Cheers,