JCI Indication

Bullish (Moderate)

Support / Resistance: 6,276 – 6,347

Heightened geopolitical tensions in the Middle East
- Last week Iran’s top military commander was killed in a U.S. airstrike in Baghdad
  - Raising concerns of retaliation from Iranian forces
- The Iraqi government has accused the U.S. of violating its sovereignty
- Iraq's parliament passed a resolution on Sunday calling for the government to expel foreign troops from the country
- President Trump threatened to slap sanctions on Iraq

Flight To Quality
- Spot gold surged 1.2% to $1,569 per ounce, its highest since April 2013
- Oil prices added to their gains on fears any conflict in the region could disrupt global supplies
- In currency markets, JPY remained the favored safe harbor

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MARKET NEWS
PT Indika Energy Tbk. allocating capital expenditure of US $ 146 million. The amount is 53.60% smaller than the 2019 budget which reached US $ 315 million. The small budget to reach the production target this year is also lower compared to last year. When in 2019, the INDY stock coded shares could produce 34 million tons. this year, the company increased production by 30.95 million tons.

PT Bumi Resources Tbk. has realized the coal sales target of 88 million tons in 2019. The amount is 10% higher compared to the realization of 2018 of 80 million tons.

PT Eastparc Hotel Tbk projecting revenue this year to increase by 15.11% per year. This forecast of growth is in line with the targeted tourist visit to Yogyakarta.

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Technical Recommendations :
Stock: *MEDC*
Short Term Trend: Uptrend
Medium Term Trend: Bullish
Trade Buy: 910
Target Price 1: 945
Target Price 2: 975
Stop Loss: 860

Stock: *ADHI*
Short Term Trend: Sideways
Medium Term Trend: Bullish
Trade Buy : 1,210
Target Price 1: 1,245
Target Price 2: 1,280
Stop Loss: 1,160

Stock: *CTRA*
Short Term Trend: Sideways
Medium Term Trend: Sideways
Trade Buy : 1,050
Target Price 1: 1,070
Target Price 2: 1,095
Stop Loss: 1,020

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