Indonesia Market Recap

JCI rallied last Friday, the last day of 2017. It contrinued 5-back-to-back rally. Top Gainers : Misc Industries (+2.77%), Infrastructure (+1.31%), Property (+1.13%).

Today’s Outlook: The First Day of 2018

We estimate JCI to lower with the support range of 6288-6297 and resistance range of 6368-6375. JCI will experience correction after it endured the 5-back-to-back day of rally in the end of 2017. he negative sentiment derived from the release of Indonesia’s PMI data endured contraction from 50.4 in November into 49.3 in December. Nonetheless, investors kept focusing in the mining sector considering the continuous rally in the commodity price.

Download full report HERE.