Indonesian Market Recap
JCI continued to rally on Friday, 07/13/18. Foreign investors recorded net-buy amid the corporate earnings season starting this week. Top Gainers: Misc Industries (+1.40%), Finance (+1.13%), Mining (+0.87%).
Today’s Outlook: Expectancy of Trade Surplus
We estimate JCI to rally with the support range of 5900-5908 and resistance range of 5988-5993. The global market backdrop is conducive amid the U.S. fresh corporate earnings. From domestic outlook, investors likely eyes June’s trade balance data estimated to enjoy surpluses after prior-month deficits as June’s import activities was at the minimum level due to Eid Mubarak holiday.
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