Wall Street closed the end of trading last week (14/05) with significant gains, although on a weekly basis it ended in the red zone. Market participants have welcomed the relaxation for wearing masks for people who have received vaccinations. Meanwhile, the April sales data was reported flat after experiencing a sharp increase in the previous month.
Opening trade after the Eid holiday period, JCI’s movement has the potential to be influenced by sentiment from regional markets, which mostly declined over the past week. Investors will be watching the release of Trade Balance data scheduled for this week. Technically, JCI has the potential to move upward in the range of 5,910 – 5,996.
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