JCI Indication
Bearish (Moderate)
Support / Resistance: 6,348 – 6,399
Market Drivers:
- Non-farm Payroll
- Non farm payroll is scheduled to be released later
this day
- consensus expects 165,000 vs May weak number of
75,000
- This release will provide clue whether the Fed will
cut interest rates at the end of July.
- U.S. markets were closed for the 4th of July
holiday.
Vietnam – EU trade deal
- Vietnam and EU signed trade deal that will eliminate
99% of tariffs on goods imported from the Asian developing nation to the bloc.
- After Trump suggested recently that Vietnam could be
his next major tariffs target.
- Vietnam is currently the EU’s 16th largest trade partner, and second-largest trading partner among Southeast Asian countries
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MARKET NEWS
KAYU
KAYU claimed the company is targeting a net sale of IDR 64 billion this year, rose 70.12% compared to 2018 realization of IDR 37.62 billion. Meanwhile, the targeted net profit is IDR 3.6 billion, doubled from 2018 realization of IDR 1.8 billion.
ITIC
ITIC is targeting to grow 33.81% revenue
this year. If at the end of 2018 ITIC
income is IDR 134.52 billion, then this year's revenue is targeted to be around IDR 180 billion. To achieve the target, Indonesian Tobacco will increase production and expand the market.
POWR
This year POWR targets the growth of customers from the industrial sector and claimed the sales to industrial estate customers grew 5% until March 2019. Meanwhile, POWR is focusing on fulfilling all additional electricity demand from industrial estates and PLN with operational quality.
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Technical Recommendations :
Stock: *INCO*
Short Term Trend: Uptrend
Medium Term Trend: Bullish
Buy on Weakness: 2,940
Target Price 1: 3,050
Target Price 2: 3,160
Stop Loss: 2,840
Stock: *SMRA*
Short Term Trend: Sideways
Medium Term Trend: Bullish
Trade Buy: 1,190
Target Price 1: 1,230
Target Price 2: 1,275
Stop Loss: 1,140
Stock: *GMFI*
Short Term Trend: Sideways
Medium Term Trend: Sideways
Trade Buy: 216
Target Price 1: 222
Target Price 2: 230
Stop Loss: 208
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