Indonesian Market Recap
JCI was bullish yesterday. Investors target big-cap shares ahead of annual financial performance. Top Gainers : Consumer (+3.43%), Misc Industries (+2.87%), Finance (+2.31%).
Today’s Outlook: Steep Jump in Crude Prices
We estimate JCI to rally with the support range of 6590-6599 and resistance range of 6665-6672 by today. Steep jump in crude prices propped by IMF’s revision to global economic growth into 3.9% the highest growth since 2011 and the blunted dollar are catalysts for a globally positive sentiment. From domestic outlook, investors need to digest the release of corporate financial performance, i.e BBRI to release its annual performance.
Download full report HERE.