US stock market closed mixed in trading (04/05), marked by a sharp decline in Nasdaq. Tech stocks once again led the decline after the market gave a fairly high valuation. US Treasury Secretary Janet Yellen said that it is possible that the Fed will have to raise interest rates to prevent the economy from overheating.
Domestically, JCI seems to still struggle within the range of its normal consolidation. Market participants will be watching the release of Indonesia’s GDP figures for the first quarter of 2021, where the consensus estimates the economy to still be in a contraction zone. Technically, JCI still has the opportunity to continue strengthening with a range of movements at 5,932 – 6,030.
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