Market Recap
JCI continued its 8-day-strengthening streak, led by the banking sector, BBRI stocks in particular. Top Gainers: Trade (+1.64%), Finance (+0.94%), Infrastructure (+0.64%).

The global markets were at mixed mood after the U.S. post midterm election. The U.S. and European investors eyed on the Fed’s stance of gradually raising overnight rate. Besides, European Commission also projected European Union’s growth to be stagnant in a few next years. China’s bourses closed lower along with narrowing surpluses of trade balance.

Today’s Outlook: Current Account Deficit in 3Q18
Today we estimate JCI to pace at a modest pace with the support range of 5921-5927 and resistance range of 5997-6004. JCI’s 5-day-winning streak entailed the risks of high corrections. Investors are estimated to realize obtained profits. Today, investors will await current account’s deficits of 3Q18. 2Q18 deficits were at USD8.0 billion. In 3Q18, the deficits are estimated to amount to USD8.9 billion due to the high deficit of 3Q18 trade balance.

On the other hand, the global markets are in a flat territory after the end of the Fed meeting. The Fed stated to remain hawkish and revealed the U.S. lagging economic growth.

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